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Start with an arbitrary utility function u(x1, x2) that is differentiable. Let v (u) is a monotonic transformation of u.
a) Solve:
max u(x1, x2) ST : p1x1 + p2x2 = m
b) Solve:
max v (u(x1, x2)) ST : p1x1 + p2x2 = m
c) Discuss the relationship between these problems. What characteristics of the utility function are generating this result?
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