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dangina [55]
3 years ago
13

Matt's ordinary demand function for commodity x1(p1, p2, I)=(3I)/p1. How will a 1% increase in p1 affect Matt's expenditures on

x1 (use our approximization formula here)?
(A) His expenditure on x1 will increase by 1%
(B) His expenditures on x1 will not change.
(C) His expenditures on x1 will decrease by 1%.
(D) It is not possible to determine how Matt's expenditures will change from the information given.
Mathematics
1 answer:
vladimir2022 [97]3 years ago
5 0
Answer : The answer is option D.
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F = 2.25+0.2(m-1)
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F = 2.25 + 0.2(m-1)
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6.05-2.25 = 0.2(m-1)
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3.8/0.2 = m-1
19 = m-1
m = 19+1
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Step-by-step explanation:

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3 years ago
I need help with this question
Vikki [24]

Answer:

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Step-by-step explanation:

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