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Now by de nition E(p;u0) is the minimized expenditure when price is p, it must be less than or equal to pTx0 since x0 is in the feasible set, and by de nition equal when p = p0.1 Hints and Answers Jehle/Reny 2e Chapter 1 1.2 Use the de?nitions. 1.4 To get you started, take the indi?erence relation. Consider any three points xi ? X,i = 1,2,3, where x1 ? x2 and x2 ? want to show that x1 ? x2 and x2 ? x3 ? x1 ? x3. By de?nition of ?,x1 ? x2 ? x1%x2 and x2 %rly, x2 ? x3 ? x2%x3 and x3 x2. By transitivity of %,x1 %x2 and x2%x3 CONTENTS ix 4.2.2 Bertrand Oligopoly 175 4.2.3 Monopolistic Competition 177 4.3 Equilibrium and Welfare 179 4.3.1 Price and Individual Welfare 179 4.3.2 Ef?ciency of …Advanced Microeconomic Theory Solution Manual | Chegg.comKindle File Format AdvancedAdvanced Microeconomic Theory 3rd Edition PDFRead Online Jehle Reny Advanced Microeconomic Theory Solution Manual jehle reny advanced microeconomic theory solution manual is available in our digital library an online access to it is set as public so you can get it instantly. 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