01 Jul EC 252 Homework 4 Principles of Mi
EC 252 Homework 4 Principles of Microeconomics Demand Curve Assignment
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2 months ago
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Question Description
Show the derivation of a demand curve from the underlying fundamentals of consumers solving their problem.In other words, show a budget constraint and indifference curve that shows a consumer solving his problem.Then change the price of good 1 (either decrease or increase it) and show the new amount of good 1 consumed (assume the indifference curves are basically parallel and behave “nicely”).Change the price one more time (in the same direction) and show the new amount of good 1 consumed.Plot your thre
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