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EC311 · Intermediate Microeconomics

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EC311 / TOPIC 04

2.3 Corners, substitutes and complements

A teaching model for this topic. Its illustrative numbers may differ from the worked question.

  1. 01Predict
  2. 02Try
  3. 03Explain
  4. 04Challenge

Why do some preferences have no tangency?

Illustrative model numbers, not Thailand or current economic data.

For u=2X+Y, when the X price rises from 12 and the Y price stays 6, what is chosen?