The prices are (p 1 , p 2 ) = (2, 3), and the consumer is currently
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The prices are (p1, p2) = (2, 3), and the consumer is currently consuming (x1, x2) = (4, 4). There is a perfect market for the two goods in which they can be bought and sold costlessly. Will the consumer necessarily prefer consuming the bundle (y1, y2) = (3, 5)? Will she necessarily prefer having the bundle (y1, y2)?
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The bundle y 1 y 2 3 5 costs more than the bundle ...View the full answer
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