Find value of p and w that make choice compatible with warp, Microeconomics

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Find value of p and w that make choice compatible with warp

a consumer chooses bundles of two goods. In one situation (p1,p2) = (1,1), w = 1 and (x1,x2) = (1/2,1/2). At the new situation, (p'1,p'2) = (2,p'2) and (x'1,x'2) = (3/4,1/4). Assuming her demand satisfies Wlaras' Law, what are the value of p'2 and w' that make her choice compatible with the WARP?

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Microeconomics: Find value of p and w that make choice compatible with warp

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Microeconomics: Find value of p and w that make choice compatible with warp

Reference No:- TGS071042

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Ask an Expert for Answer!!

Microeconomics: Find value of p and w that make choice compatible with warp

Reference No:- TGS071042

Recent Questions Asked Microeconomics

Q : Why is interpersonal relationships important

Q : It has a fairly mountainous terrain

Q : Explain the incentives for entrepreneurship

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Q : Find value of p and w that make choice compatible with warp

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Q : Function of the internet corporation for assigned names

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