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Find the consumers demand cuntions for goods

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A consumer has the utility function U(x1, x2) = x1x2 and an income of £24. Initially, the price of good 1 was £1 and price of good 2 was £2. Then the price of good 2 rose to £3 while price of good 1 stayed the same.

a) Find the consumers demand cuntions for goods 1 and 2. [Hint: use condition for consumer equilibrium to derive these.

Reference no: EM132387915

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