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2. The prices are (P1, P2) = (2,3), and the consumer is currently consuming (x1, x2) = (4, 4). (a) Will the consumer necessarily prefer to consume the bundle (x1, x2) = (3,5) over the bundle (x1, x2) = (4,4). Why? (b) Will the consumer necessarily prefer to have the bundle (x1, x2) = (3, 5) over the bundle (x1, x2) = (4,4). Why?

2. The prices are (P1, P2) = (2,3), and the consumer is currently consuming (x1, x2) = (4, 4). (a) Will the consumer necessarily prefer to consume the bundle (x1, x2) = (3,5) over the bundle (x1, x2) = (4,4). Why? (b) Will the consumer necessarily prefer to have the bundle (x1, x2) = (3, 5) over the bundle (x1, x2) = (4,4). Why?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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2. The prices are (P1, P2) = (2,3), and the consumer is currently consuming (x1, x2) = (4, 4). (a) Will the consumer necessarily prefer to consume the bundle (x1, x2) = (3,5) over the bundle (x1, x2) = (4,4). Why? (b) Will the consumer necessarily prefer to have the bundle (x1, x2) = (3, 5) over the bundle (x1, x2) = (4,4). Why?
Transcribed Image Text:2. The prices are (P1, P2) = (2,3), and the consumer is currently consuming (x1, x2) = (4, 4). (a) Will the consumer necessarily prefer to consume the bundle (x1, x2) = (3,5) over the bundle (x1, x2) = (4,4). Why? (b) Will the consumer necessarily prefer to have the bundle (x1, x2) = (3, 5) over the bundle (x1, x2) = (4,4). Why?
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