Suppose a consumer is currently getting utility from U1 which has the points (x = 12,...
Suppose a consumer is currently getting utility from U1 which has the points (x = 12, y = 0), (x = 6, y = 8), and (x = 4, y = 14).
The price of x is $4.
The price of y is $2.
The consumer's income is $40.
After a change in the price of x to $3, the consumer starts consuming the bundle (x = 10, y = 5).
Are goods x and y gross complements or gross substitutes for this consumer? Explain how your arrived at your answer.
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Suppose a consumer is currently getting utility from U1 which has
the points (x = 12,...
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