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Suppose the preferences of an agent satisfy all of the usual assumptions. Indicate whether each of the following statements are True, False, or Uncertain. Provide
Suppose the preferences of an agent satisfy all of the usual assumptions. Indicate whether each of the following statements are True, False, or Uncertain. Provide a brief explanation. (a) The ordinary (i.e., Marshallian) demand curve is always weakly decreasing in price. (b) The slope of compensated (i.e., Hicksian) demand curve with respect to price must be more negative than the ordinary demand curve
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