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Mairoon Mairoon
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6 years ago
Suppose the typical consumer only purchases food and clothing, and her utility can be expressed as U = F * C. Currently, food costs $5 per unit and clothing costs $2 per unit. Her income is $70. If the price of food increases to $6, compare the resulting Laspyre's price index with a true cost of living index.
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Microeconomics

Microeconomics


Edition: 6th
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LBCeaLBCea
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Mairoon Author
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#2
5 years ago
Thanks. This is just start. Wink Face
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