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cunsumers utility is U=6X1+4X2. Income is 24. Price good 1 is fixed at 2. Price of good 2 change from 2 to 1. Income and

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cunsumers utility is U=6X1+4X2. Income is 24. Price good 1 is fixed at 2. Price of good 2 change from 2 to 1. Income and substitute effects for both good correspond to price change

image text in transcribed Question 3 6 p Consumer's utility is U=6x1+4x2. Income is 24. Price of good 1 is fixed at 2. Price of good 2 changed from 2 to 1. What are ncome and substitution effects for both goods corresponding to this price change? Show 2-3 steps in your solutions

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