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Using the following ulitity functions, calculate the substitution effect, income effect and the total effect. Please show your work U(X,X2)=2 X+ X2. P=$6, P2=$ 2,
Using the following ulitity functions, calculate the substitution effect, income effect and the total effect.
Please show your work
U(X,X2)=2 X+ X2. P=$6, P2=$ 2, M-$36, and P'=$2. Step by Step Solution
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