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corie corie
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6 years ago
Suppose that a consumer's increase in nominal income from the base year exceeds the inflation level given by a Laspeyres cost of living index for their level of purchases :

    (  <  ). 

Show that this information implies that the consumer is strictly better-off as compared to the base year.  (Hint: Use a revealed preference argument.)
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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CanihCanih
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6 years ago
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corie Author
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6 years ago
This calls for a celebration Person Raising Both Hands in Celebration
nsak
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momochiime
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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