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The University of New Castle Australia
Price Theory (ECON1268)
Added on 2020-03-01
In this document, we will cover questions and answers on Price Theory. We cover the following topics: deriving the optimal consumption basket, the expression for sally's marginal rate of substitution, sally's optimal consumption basket, sally's new optimal consumption basket if the price of coffee increases to Px, is coffee a Giffen good for sally and income and substitution effects associated with an increase in the price of coffee.
The University of New Castle Australia
Price Theory (ECON1268)
Added on 2020-03-01
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