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(a) Derive the Marshalian demand functions for the following utility function:
u(x1,x2,x3) = x1 + δ ln(x2) x1 ≥ 0, x2 ≥ 0
Does one need to consider the issue of "corner solutions" here?
(b) Derive the Hicksian demand functions and the expenditure function for the following utility function:
u(x1,x2,x3) =min {√x1, 2√x2, 4√x3} x1 ≥ 0, x2 ≥ 0, x3 ≥ 0
Using the expenditure function and the Hicksian demand functions that you obtained, derive the indirect utility function and the Marshalian demand function for good 1.
Juan is g years old and Eva is 2 years younger than Juan. a.Find the sum of their ages in terms of g. b.Find the sum of their ages in g years'' time,in terms of g.
Consider x € R. Then the magnitude of x is known as it's absolute value and in general, shown by |x| and is explained as Since the symbol always shows the nonnegative
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