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Smith cannot tell the difference between rice and wheat and spends all her food budget of $24/wk on these foodstuffs. If rice costs $3/1b, draw
Smith cannot tell the difference between rice and wheat and spends all her food budget of $24/wk on these foodstuffs. If rice costs $3/1b, draw Smith's price- consumption curve for wheat and the corresponding demand curve. Repeat the preceding problem on the assumption that rice and wheat are perfect, one- forone complements
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