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What is the formula for the Hicksian demand of good 1 if U(x1,x2)=2x1+x2, the price of good 2 is 10 and the utility level is
- What is the formula for the Hicksian demand of good 1 if U(x1,x2)=2x1+x2, the price of good 2 is 10 and the utility level is 60?
- Consumer's utility function is x1(x2-1). The income is 44, the price of good 2 is 4, and the price of good 1 increased from 4 to 5. What are the CV and the change in CS?
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Microeconomics
Authors: Paul Krugman, Robin Wells
5th edition
1319098780, 1319098789, 978-1319098780
