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A consumer has a preference over good 1 and good 2 represented by the utility function u(x1, x2) = x1 + x2, given the prices of good 1 and 2 are p1
A consumer has a preference over good 1 and good 2 represented by the utility function u(x1, x2) = x1 + x2, given the prices of good 1 and 2 are p1 and p2 respectively, and the consumer has a income of m, derive the consumer’s demands for good 1 and 2 separately.
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