You observe a consumer in two situations with an income of


You observe a consumer in two situations: with an income of $100 he buys 5 units of good 1 at a price of $10 per unit and 10 units of good 2 at a price of $5 per unit. With an income of $175 he buys 3 units of good 1 at a price of $15 per unit and 13 units of good 2 at a price of $10 per unit. Do the actions of this consumer conform to the basic axioms of consumer behaviour?

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Microeconomics: You observe a consumer in two situations with an income of
Reference No:- TGS01262011

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