Suppose that the price of mangos is $2 and that of star fruits is $3 and...
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Suppose that the price of mangos is $2 and that of star fruits is $3 and that Albertine is endowed with 12 mangos and 8 star fruits, The maximum number of mangos that Albertine can afford is The maximum number of star fruits that Albertine can afford is Her gross demand for mangos will be Her gross demand for star fruits will be Her net demand for mangos will be Her net demand for star fruits will be Suppose now that the dollar value of Albertine's endowment were the same, but that prices were different, such that her net demand for mangos were zero. In that case, the price of mangos must be the price of star fruits must be Finally, suppose that the dollar value of Albertine's endowment were the same, but that prices were different, such that her net demand for star fruits were zero. In that case, the price of mangos must be the price of star fruits must be Suppose that the price of mangos is $2 and that of star fruits is $3 and that Albertine is endowed with 12 mangos and 8 star fruits, The maximum number of mangos that Albertine can afford is The maximum number of star fruits that Albertine can afford is Her gross demand for mangos will be Her gross demand for star fruits will be Her net demand for mangos will be Her net demand for star fruits will be Suppose now that the dollar value of Albertine's endowment were the same, but that prices were different, such that her net demand for mangos were zero. In that case, the price of mangos must be the price of star fruits must be Finally, suppose that the dollar value of Albertine's endowment were the same, but that prices were different, such that her net demand for star fruits were zero. In that case, the price of mangos must be the price of star fruits must be
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Related Book For
Probability and Statistics
ISBN: 978-0321500465
4th edition
Authors: Morris H. DeGroot, Mark J. Schervish
Posted Date:
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