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When we use the composite good convention

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When we use the composite good convention, what do we mean by a composite good and how do we measure it? What is the slope of the budget line? What is the slope of an indifference curve? Does the consumer equilibrium involve an equality between MRS and a price ratio?

Reference no: EM131541434

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When we use the composite good convention : When we use the composite good convention, what do we mean by a composite good and how do we measure it? What is the slope of the budget line?
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