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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.
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Theorem, from Definition of Derivative If f(x) is differentiable at x = a then f(x) is continuous at x =a. Proof : Since f(x) is differentiable at x = a we know, f'(a
Describe Square Roots? When a number is written inside a radical sign (√), the number is called the radicand, and we say that you are "taking the square root of" that number.
Let R be the relation on S = {1, 2, 3, 4, 5} defined by R = {(1,3); (1, 1); (3, 1); (1, 2); (3, 3); (4, 4)}. (b) Write down the matrix of R. (c) Draw the digraph of R.
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Adding Equally Sized Groups: Once children have had enough practice of making groups of equal size, you can ask them to add some of these equal groups. They can now begin to atte
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Marci filled her car's gas tank on Monday, and the odometer read 32,461.3 miles. On Friday while the car's odometer read 32,659.7 miles and she filled the car's tank again. It will
Inverse Sine : Let's begin with inverse sine. Following is the definition of the inverse sine. y = sin -1 x ⇔ sin y = x for - ?/2 ≤ y ≤ ?/2 Hen
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