2. Think about a consumer with a utility function of U(x,y) =2xy+1, his budget constraint is px*x +py*y = m. а. Please derive the Marshallian demand functions. What would happen to the demand of each good if m increases(assume price positive)? Are they normal good or inferior good? Please derive the indirect utility function. b. С. Dloace dorivo th e oxnon uro function
2. Think about a consumer with a utility function of U(x,y) =2xy+1, his budget constraint is px*x +py*y = m. а. Please derive the Marshallian demand functions. What would happen to the demand of each good if m increases(assume price positive)? Are they normal good or inferior good? Please derive the indirect utility function. b. С. Dloace dorivo th e oxnon uro function
Chapter6: Demand Relationships Among Goods
Section: Chapter Questions
Problem 6.9P
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I need asnwer of D
![2.
Think about a consumer with a utility function of U(x,y) =2xy+1, his budget
constraint is px*x +py*y = m.
а.
Please derive the Marshallian demand functions.
b.
What would happen to the demand of each good if m increases(assume price
positive)? Are they normal good or inferior good?
Please derive the indirect utility function.
Please derive the expenditure function.
С.
d.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1719c5d8-e5b4-4818-9732-bce18c4f6d37%2Fa9137bbf-d430-46f4-a6d2-a142833f5448%2Fpwqc2an_processed.png&w=3840&q=75)
Transcribed Image Text:2.
Think about a consumer with a utility function of U(x,y) =2xy+1, his budget
constraint is px*x +py*y = m.
а.
Please derive the Marshallian demand functions.
b.
What would happen to the demand of each good if m increases(assume price
positive)? Are they normal good or inferior good?
Please derive the indirect utility function.
Please derive the expenditure function.
С.
d.
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