14-consumer theory apps jpw (1) - Consumer Theory...

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microL14-S2010-page http://www.arts.cornell.edu/econ/wissink/econ1110jpw/ Consumer Theory Applications Lecture 14-PREVIEW Dr. Jennifer P. Wissink ©2009 John M. Abowd and Jennifer P. Wissink, all rights reserved. March 9, 2010
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microL14-S2010-page http://www.arts.cornell.edu/econ/wissink/econ1110jpw/ Now: How to Find Maryclaire’s Optimal Bundle When I=$40, P C B Varies
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microL14-S2010-page http://www.arts.cornell.edu/econ/wissink/econ1110jpw/ How to Find Maryclaire’s Demand for Beans When I=$40, P C B Varies
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microL14-S2010-page http://www.arts.cornell.edu/econ/wissink/econ1110jpw/ Maryclaire’s Demand For Beans – Table Summary The table shows the amount of beans that Maryclaire demands at each price. These are the points of tangency from the previous slides. Maryclaire's Demand for Beans Quantity Price Points 5.5 4 A 10 2 B 18 1 C
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microL14-S2010-page http://www.arts.cornell.edu/econ/wissink/econ1110jpw/ Maryclaire’s Demand For Beans - Graphed When the price of beans is $4/lb, Maryclaire demands 5.5 lbs of beans (A). When the price of beans is
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14-consumer theory apps jpw (1) - Consumer Theory...

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