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Valerie's utility function can be expressed as U ( X , Y ) = 5 XY . The prices of good X and Y are
Valerie's utility function can be expressed as U (X, Y ) = 5XY . The prices of good X and Y are PX = $4 and PY=$2, respectively. Her income is $1200.
- Derive Valerie's income consumption curve (i.e. the function). Graph it.
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Global Capitalism Its Fall And Rise In The Twentieth Century
Authors: Jeffry Frieden
1st Edition
039332981X, 9780393329810
