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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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Calculate the value of the following limits. Solution From the graph of this function illustrated below, We can illustrate that both of the one-sided limits suffer
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If the expression 9y - 5 represents a certain number, which of the following could NOT be the translation? a. five less than nine times y b. five less than the sum of 9 and y c
Common Graphs : In this section we introduce common graph of many of the basic functions. They all are given below as a form of example Example Graph y = - 2/5 x + 3 .
In class 1, the teacher had written down the digits 0,1, ...., 9 on the board. Then she made all the children recite the corresponding number names. Finally, she made them write th
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