Philips quasilinear utility function is u4q105 q2 his
Philip's quasilinear utility function is U=4q1^0.5 + q2. His budget for these goods is y=10. Originally the prices are p1=p2=1. However, the price of the first good rises to p1=2. discuss the substitution, income, and total effect on demand for q1.
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suppose there are two goods available for consumption good 1 and good 2 and the government has imposed rationing on the
philips quasilinear utility function is u4q105 q2 his budget for these goods is y10 originally the prices are p1p21
felix chooses between clothing q1 and food q2 his initial income is 1000 a month p1100 and p210 at his initial bundle
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