Bruce has the same income and faces the same prices as Sam in Problem 1, but he
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Bruce has the same income and faces the same prices as Sam in Problem 1, but he views 1 cup of orange juice as a perfect substitute for 1 cup of apple juice. Find Bruce’s optimal consumption bundle. How much additional income would Bruce need to be able to afford his original consumption bundle when the price of apple juice doubles?
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Bruces budget constraint is the same as Sams but his indiffe...View the full answer
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Joemar Canciller
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