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Economics

Suppose Michelle makes a trip to a candy store where she intends to purchase two goods: gummy worms (g) and donkeys (d). Her utility function is U = gd.

(a) Suppose the price of gummy worms is 2 and she has $200 in income. Derive an expression for her demand curve for donkeys.

(b) Suppose the price of gummy worms is 2 and the price of donkeys is 100. Derive an expression for her Engel curve for donkeys.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91707576

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