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Consider a consumer with CES utility u(x1 ; x2 ) = x1 x2 . (a) Does this consumer have preferences the increasing dierence property between
Consider a consumer with CES utility u(x1 ; x2 ) = x1 x2 . (a) Does this consumer have preferences the "increasing dierence property" between the two goods? How about the strict increasing dierence property? Make a detailed argument
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Managerial Economics Theory Applications and Cases
Authors: Bruce Allen, Keith Weigelt, Neil A. Doherty, Edwin Mansfield
8th edition
978-0393124491, 393124495, 978-0039391277, 393912779, 978-0393912777
