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Depending on the price ratio O Xx * x* = = x = * x* = x* Py x* = 0 and y* = = 0 and y* * X = Pa 0 and y* * x = and y* Py and y* Pa 0 and y* = 0 = = 0 = = I Py Pz and y* = 0 = I Px Py and y* = 0 Px Py for for for for for for for for " what are the Marshallian demands? Py Pa Py PI Py Pa Py PI Py PI Py Py Pa Py VA VA V V 43413 VA منح منحر 3 3434 < 4/4/2 413413

Depending on the price ratio O Xx * x* = = x = * x* = x* Py x* = 0 and y* = = 0 and y* * X = Pa 0 and y* * x = and y* Py and y* Pa 0 and y* = 0 = = 0 = = I Py Pz and y* = 0 = I Px Py and y* = 0 Px Py for for for for for for for for " what are the Marshallian demands? Py Pa Py PI Py Pa Py PI Py PI Py Py Pa Py VA VA V V 43413 VA منح منحر 3 3434 < 4/4/2 413413

Exploring Economics
Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter10: Consumer Choice Theory
Section: Chapter Questions
Problem 1P
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Depending on the price ratio, what are the Marshallian demands? Py x * X* x * x* x* x* I Pa = = 0 and y* X* - - * x = = 0 and y* - = = and y* I and y* Py 0 and y* - 0 and y* I Px I and y* Py - - - and y* - = - 0 for I Py 0 I Px I PE 0 Py 0 for for for for for for for PI Py PI Py PI Py Px Py Pc Py Px Py Px Py PT Py VA VA V 4343 A|CA|Co A|CA|C V V 4 V 4343
Transcribed Image Text:Depending on the price ratio, what are the Marshallian demands? Py x * X* x * x* x* x* I Pa = = 0 and y* X* - - * x = = 0 and y* - = = and y* I and y* Py 0 and y* - 0 and y* I Px I and y* Py - - - and y* - = - 0 for I Py 0 I Px I PE 0 Py 0 for for for for for for for PI Py PI Py PI Py Px Py Pc Py Px Py Px Py PT Py VA VA V 4343 A|CA|Co A|CA|C V V 4 V 4343
Gina is at a toy store and is buying toy T-Rex's (x), which cost px, and toy yaks (y), which cost py. Her income is I. She likes 3 T-Rex's as much as she likes 4 yaks. These toys are perfect substitutes for her.
Transcribed Image Text:Gina is at a toy store and is buying toy T-Rex's (x), which cost px, and toy yaks (y), which cost py. Her income is I. She likes 3 T-Rex's as much as she likes 4 yaks. These toys are perfect substitutes for her.
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