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Business, 10.10.2019 04:00 shelley3135

Suppose that a consumer's preferences are well behaved in that properties 4-1 to 4-4 are satisfied and the initial budget constraint is given by 300 = 2x + 4y. at the initial budget constraint, this consumer purchases 100 units of good x and 25 units of good y. suppose the price of x increases to $4 per unit, resulting in a new consumption bundle consisting of 60 units of x and 15 units of y. then, the slope of the inverse demand for good x over this consumption range is: multiple choice −0.05. −0.444. 0.05. −0.267.

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Suppose that a consumer's preferences are well behaved in that properties 4-1 to 4-4 are satisfied a...

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