Compute each consumers demand functions for goods x and y

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Reference no: EM13242028

Consider a two consumer exchange economy. Consumer 1 and consumer 2 have utility functions given by:

u1=x^(2/3)*y^(1/3)
u2=xy

These consumers are initially endowed with:

e1=(18,7)
e2=(15,16)

Compute each consumers demand functions for goods x and y.

Reference no: EM13242028

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