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On the planet Homogenia every consumer who has ever lived consumes only two goods, x and y, and has the utility function U(x, y) = xy.The currency in Homogenia is the fragel.In this country in 1900, the price of good 1 was 1 fragel and the price of good 2 was 2 fragels.Per capita income was 84 fragels.In 2000, the price of good 1 was 1 fragels and the price of good 2 was 5 fragels.The Laspeyres price index for the price level in 2000 relative to the price level in 1900 is
Q9: Mr.O.B.Kandle has a utility function c<sub>1</sub>c<sub>2</sub>, where
Q11: Mort's utility function is U(x<sub>1</sub>, x<sub>2</sub>)=x<sub>1</sub>x<sub>2</sub>.His income
Q12: Jose consumes rare books which cost him
Q16: Let us reconsider the case of Ronald
Q24: The sum of the terms of the
Q24: Ashley, from your workbook, has discovered another
Q29: Neville, has a friend named Oswald.Oswald has
Q31: Ambrose's utility is U(x<sub>1</sub>, x<sub>2</sub>)= = 4x<sup>1/2</sup><sub>1</sub>
Q33: Daisy received a tape recorder as a
Q36: Holly consumes x and y.The price of