Consider a consumer with income M who can buy two products, good 1 and good 2 for
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Consider a consumer with income M who can buy two products, good 1 and good 2 for prices p1 and p2. If the consumer has Cobb-Douglas utility, show that her preferences are homothetic.
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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