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?

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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