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Consider the following cnsumer problem. here are two commodities and the consumer's utility function is u(x) = min{2x1, x2}. The income of the consumer is
Consider the following cnsumer problem. here are two commodities and the consumer's utility function is u(x) = min{2x1, x2}. The income of the consumer is 12 and the price of both commodities is 1. What is the demand of the consumer for commodity 1 at this price-income pair? A. 4 B. 8 C. 6
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Principles of Economics
Authors: Fred M. Gottheil
7th edition
978-1133962069, 9781285064444, 1133962068, 1285064445, 978-1285064437
