Question: When we use the composite- good convention, what do we mean by a composite good and how do we measure it? What is the slope

When we use the composite- good convention, what do we mean by a composite good and how do we measure it? What is the slope of the budget line? What is the slope of an indifference curve? Does the consumer equilibrium involve an equality between MRS and a price ratio?

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Consumption of the composite good is gauged by total outlays on all other goods other than the one ... View full answer

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