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ConsiderTrevorfromourpreviousproblemsetwhobeginshisdaywithstrawberrymilkshake.Toprepare it,hemixesmilk, x 1 ,strawberries x 2 anddoessoalwaysinhisfavorite:proportion1glassofmilkto2 strawberries.Which of the following is correct? a. x 1 is an inferior good b.the utility function ismin
ConsiderTrevorfromourpreviousproblemsetwhobeginshisdaywithstrawberrymilkshake.Toprepare it,hemixesmilk,x1,strawberriesx2anddoessoalwaysinhisfavorite:proportion1glassofmilkto2 strawberries.Which of the following is correct?
a.x1is an inferior good
b.the utility function ismin {x1,2x2}
c.x1is a Giffen good
d.the utility function ismin {2x1,x2}
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