Answer to Question #62561 in Microeconomics for Blay

Question #62561
a consumer utility function
is u=√EF. Find the marshalian demand function
for E and F, find the compensated demand
function. now let the budget be m=100. prices
are 1,1. what are the demand quantities? what
is the utility level? Let the price of F rise to 2.
what are the demand quantities? what is the
utility level. What is the income compensation
necessary to put the consumer back to his
original utility level after the price change?.
Assume the utility function is u= lnE + lnF. How
does this new utility function change your
results from the beginning?
Expert's answer
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