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Suppose A Consumer's Demand Function For Good X Is Of The Form X=2m/3p And His Original Income Of Kshs 5000 Per Day. Further Let The Price Of Good X Increase From Kshs 20- Ksh 35 Per Unit.
1). Calculate The Total Change In Demand.
2) The Income And The Substitution Effects. - Math Discussion
Suppose a consumer's demand function for good x is of the form X=2m/3p and his original income of kshs 5000 per day. further let the price of good X increase from kshs 20- ksh 35 per unit.
1). calculate the total change in demand.
2) the income and the substitution effects.
