Marshallian Demand ·
Uncompensated x(p, m)
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.com · max u(x) s.t. p·x ≤ m · substitution + income
Px
$4
Stage
—
Beat
—
Budget line (p·x = m)
Indifference curves
Optimum x(p, m)
New optimum at lower Px
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.com · Marshallian Demand