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Consider the untility function u(x1, x2) = x 2 - y Are these preferences monotonic? Do these preferences satisfy local nonsatiation? Does Walras's law hold?
Consider the untility function u(x1, x2) = x2 - y
Are these preferences monotonic?
Do these preferences satisfy local nonsatiation?
Does Walras's law hold?
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Econometrics By Example
Authors: Damodar Gujarati
2nd Edition
1137375019, 9781137375018
