When prices are (p1, p2) = (1, 2), a consumer demands (x1, x2) = (1, 2). When prices are (2,1), the consumer demands (2,1). Is t

Question

Igoryamba

3 years ago

11

When prices are (p1, p2) = (1, 2), a consumer demands (x1, x2) = (1, 2). When prices are (2,1), the consumer demands (2,1). Is t

his behavior consistent with the model of maximizing behavior?
Can someone explain this further?

Thanks!!

Advanced Placement (AP)

1 answer:

BaLLatris [955] · Answer 1 · 2022-05-17T22:29:22+03:00

<span>I think this is correct: (1) When prices are (p1, p2) = (1, 2) a consumer demands (x1, x2) = (1, 2),and when prices are (q1, q2) = (2, 1) the consumer demands (y1, y2) = (2, 1). I

(2) When prices are (p1, p2) = (2, 1) a consumer demands (x1, x2) = (1, 2),and when prices are (q1, q2) = (1, 2) the consumer demands (y1, y2) = (2, 1).
Sorry if it's wrong</span>