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Homework answers / question archive / Consider the utility function of U(X,Y)= XºY(1-a) Derive the Marshallian demand curve for X b
Consider the utility function of U(X,Y)= XºY(1-a) Derive the Marshallian demand curve for X b. Derive the Hicksan demand curve for X Waht is the indirect) expenditure function? d. What is the own-price elasticity for X? What is the income elasticity of X? f. What is the price elasticity of X with respect to y (Py) g. Show that Slutsky equation holds h. Show that Euller equation hods. i. Show that Engle Aggregation holds j. Show that Cournot Aggregation holds. e.
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