Change in Income and Optimal Choice:
Change in Price and Optimal Choice:
cf) What would be the shape of PCC if the price elasticity of demand is 1 (unitary elastic)?cf) Think about the shape of PCC if the quantity is reduced with price hike. And also think about the shape of demand for that good.
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if the 1st phase, say r or a phase begins at slot no.1, the y or b phase should start at 1200/150 = 8 slots away that is, in slot (1 + 8 = ) 9, and the b or c phase should begin at (9 + 8 =) 17.
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