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Suppose consumer are always ready to trade k units of good X for w units of good Y. Then, which of the following utility function
Suppose consumer are always ready to trade k units of good X for w units of good Y. Then, which of the following utility function represents this preference? O U ( X , Y) = KX + WY. O U (X, Y) = min{wx + ky]. Qu(x, Y) = min(kx, wy} QU ( X, Y) = WX + KY
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Macroeconomics
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
1st Edition
978-0132109994, 0132109999
