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Suppose that George is interested in only two goods cigars and scotch Employ the indifference curve/ budget line apparatus to show a case where a decrease in the price of cigars leads to an increase

Suppose that George is interested in only two goods, cigars and scotch. Employ the indifference curve/ budget line apparatus to show a case where a decrease in the price of cigars leads to an increase in George’s scotch consumption. Does this imply that cigars and scotch are complements to George? Explain your answer.

Apr 02 2020 View more View Less

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