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Suppose that consumer has utility function U(X1, X2)=X½,X½. He originally face price (1,1) and has income 100. Then the price o...Asked by Evaristi Paulo
Suppose that consumer has utility function U(X1, X2)=X½,X½. He originally face price (1,1) and has income 100. Then the price of good1 increase to 2.
Follow steps to find compensating and equivalent variation?
Follow steps to find compensating and equivalent variation?
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