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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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Find the common difference of an AP whose first term is 100 and sum of whose first 6 terms is 5 times the sum of next 6 terms. Ans: a = 100 APQ a 1 + a 2 + ....... a 6
A HOSPITAL CURRENTLY ORDERS SALINE AT THE BEGINNING OF EACH MONTH. THIS MONTH, THEY HAD 178 BAGS OF SALINE IN STOCK AND ORDERED 1,277 BAGS. DEMAND FOR SALINE IS NORMALLY DISTRIBUTE
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2/4 + 3/4 =
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