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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.
rouding each number to the nearest half
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Division basically refers to multiplication of reciprocal. For example a/b is same as a*1/b or we can say, is same as a*b -1 , which is "a" multiplied to the inverse of "b". There
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in a given figure a,b,c and d are points on a circle such that ABC =40 and DAB= 60 find the measure of DBA
What is 19% of 26? To ?nd out 19% of 26, multiply 26 through the decimal equivalent of 19% (0.19); 26 × 0.19 = 4.94.
what''s it?
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A sell a watch to B at gain of 20% and B sell to C at loss of 10%. if C pays @ 432, how much did A pays for it.
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