If the price of good x fell to 1 what is the new optimal, Econometrics

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If the price of good x fell to 1 what is the new optimal

If U(x,y)=2x^1/2 +y and Px=2, Py=6 and M=100, what is the optimal choice? If the price of good x fell to $1, what is the new optimal choice? Explain what happens to the optimal choice as income increases. What is fundamentally different about the optimal choice when income is below $18(and Px=2) then when income is greater than $18?

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Econometrics: If the price of good x fell to 1 what is the new optimal

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Econometrics: If the price of good x fell to 1 what is the new optimal

Reference No:- TGS0569562

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Econometrics: If the price of good x fell to 1 what is the new optimal

Reference No:- TGS0569562

Recent Questions Asked Econometrics

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