Wednesday

August 27, 2014

August 27, 2014

Posted by **Jake** on Tuesday, October 2, 2012 at 1:20am.

A)How many units of goods X and Y does Joe purchase before the price increase and finding the $100? Part of your answer will be in terms of prices and income.

B)After the price increase and finding the money can Joe still afford the same number of units of X and Y as in part A?

C)Is Joe better off, worse off, or just the same as before the price increase and finding the money? In other words, is utility higher in part A) or when Px=2 and income is I+100?

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