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A customer must divide $250 between the consumption of product X and product Y. The market price for X = $5 and market price for Y =$10. A) Show how the consumer's option change when the price of good X increase to $10. B) How does this change alter the market rate of substitution between good X and good Y.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946322

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