2-9-09 - Generally speaking, you want P2 in your equation,...

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Microeconomics – Class Notes – 2/9/09
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ANOTHER EXAMPLE: Price of X goes down, quantity demanded of X goes up:
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LOOK UP INCOME EXPANSION PATH DEFINTION AND EQUATION!
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P2 is in the equation, but since I am always spending a constant percentage of my income,
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Unformatted text preview: Generally speaking, you want P2 in your equation, but in this case you do not want P2 THE PRICE OF THE OTHER GOOD DOES NOT AFFECT YOUR CONSUMPTION ( IN THIS CASE SPECIFICALLY) NO PROBLEMS ASSIGNED TODAY. END OF CHAPTER 3 STARTING CHAPTER #4...
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This note was uploaded on 06/03/2009 for the course ECON 200 taught by Professor Nonnenmacher during the Spring '09 term at Allegheny.

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2-9-09 - Generally speaking, you want P2 in your equation,...

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