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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | Apr 2017 |
| Last Sign in: | 327 Weeks Ago, 4 Days Ago |
| Questions Answered: | 12843 |
| Tutorials Posted: | 12834 |
MBA, Ph.D in Management
Harvard university
Feb-1997 - Aug-2003
Professor
Strayer University
Jan-2007 - Present
Question 5 22 p1: Suppose a consumer's preferences are given by UlXfi’} = X'Y. Therefore the MU); = ‘r‘ and MUY = X. Suppose the
price of good‘l' is $1 and the consumer has $80 to spend {M = 80}. Sketch the price-consumption curve for the
values Px=$1
Px=$2
Px=$4 To do this, carefully draw the budget constraints associated with each of the prices for good X. and indicate the
bundle that the consumer chooses in each case. Also. be sure to label your graph accurately. Upload | Choose a File ‘
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