suppose, Apple = GBP 0.50 /unit Banana = GBP 1 /unit Income = 25 GBP how can we understand the satisfaction maximization choice for these 2 products using the drawing and illustration and calculation using indifference curve and budget line now suppose the apple is rationed for people by the government, how can we understand the consumer choice choice due to the government law with the indifference curve, calculations like algebra etc. and budget line ?
suppose, Apple = GBP 0.50 /unit Banana = GBP 1 /unit Income = 25 GBP how can we understand the satisfaction maximization choice for these 2 products using the drawing and illustration and calculation using indifference curve and budget line now suppose the apple is rationed for people by the government, how can we understand the consumer choice choice due to the government law with the indifference curve, calculations like algebra etc. and budget line ?
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 6SQP
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suppose,
Apple = GBP 0.50 /unit
Banana = GBP 1 /unit
Income = 25 GBP
how can we understand the satisfaction maximization choice for these 2 products using the drawing and illustration and calculation using indifference curve and budget line
now suppose the apple is rationed for people by the government, how can we understand the consumer choice choice due to the government law with the indifference curve, calculations like algebra etc. and budget line ?
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