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Micro Economics Consumption Function

Micro Economics Consumption Function

ByHomework Help Classof1

"(a) Write down an expression for his budget constraint. (b) Pawel's preferences are captured by the utility function u(q,Q) =\nq + n\nQ Where is a preference parameter? Find his uncompensated demand for British and Polish food. (c) Would his demand for Polish food rise or fall if « were to increase? Explain. (d) Does his demand for Polish food rise or fall as P rises? Does your answer depend on the incomes in the two countries y and Y? If so, how? Explain. (e) Does his utility rise or fall as P rises? Does your answer depend on the incomes in the two countries y and V? If so. How? Explain. "

Details

Publication Date
Mar 22, 2013
Language
English
Category
Education & Language
Copyright
All Rights Reserved - Standard Copyright License
Contributors
By (author): Homework Help Classof1

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Format
PDF

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