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Business, 01.04.2021 18:50 christinaruckepegvlp

Janice spends her money on Pepsi and lemonade. The price of Pepsi increases. Discuss the income and substitution effects
of this increase on the price of Pepsi, given that the price of
lemonade remains unchanged. Base your discussion on your
knowledge of the utility-maximization rule.

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Janice spends her money on Pepsi and lemonade. The price of Pepsi increases. Discuss the income and...
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