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the only quantities of good 1 that Barbie can buy are 1 unit or zero units.For x1 equal to zero or 1 and for all positive values of x2, suppose that Barbie's preferences were represented by the utility function (x1 + 12) (x2 + 8) .Then if her income were $36, her reservation price for good 1 would be
Ratio
An arithmetic ratio that illustrates the frequency with which one number incorporates another, depicting how many times one value is contained within another.
Equivalent Ratio
Ratios that express the same relationship between numbers, despite being scaled differently.
Smallest Term
The minimum value or term in a set, sequence, or collection of numbers or values.
Ratio
A link between two digits signifying the frequency with which the first digit embodies the second.
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