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Crystal has perfect complements utility for skateboards S and hats H of the form U (S, H) = min{3S, 2H}. Crystal wants to choose consumption
Crystal has perfect complements utility for skateboards S and hats H of the form U (S, H) = min{3S, 2H}. Crystal wants to choose consumption of S and H that will achieve utility U and minimize her expenditure. What is her expenditure function as a function of prices p S , p H , and utility level U
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Macroeconomics
Authors: N. Gregory Mankiw, William M. Scarth
5th Canadian Edition
1464168504, 978-1464168505
