51and5p, +3р,Suppose the Marshallian demands for goods X and Y are given as x15131. And the indirect utility function is given as V(px, Py, I) =5p, +3p,Which of the5p,+3p,following are the Hicksian demands for goods X and Y ?a. hx = 4, h, =%3D%3D5p,b. hx3phy =PxPyC. hx3pyhyPx5p.Pyd.hy =, hye. hxhy = 0%3!

Given indirect utility function :-

51 and 5p.+3p, 151 5p, +3p, Suppose the Marshallian demands for goods X and Y are given as x* = Which of the 31 y* = Sp,+3p, . And the indirect utility function is given as V(px, Py, I) = following are the Hicksian demands for goods X and Y? a. h = 4, h, = b. h = , hy = -, hy = 3p. %3D P, %3D C. hx Sp. %3D %3D O d. h = 4, hy = 5 %3D e. h, = +, h, = 0 %3D

51 and 5p.+3p, 151 5p, +3p, Suppose the Marshallian demands for goods X and Y are given as x* = Which of the 31 y* = Sp,+3p, . And the indirect utility function is given as V(px, Py, I) = following are the Hicksian demands for goods X and Y? a. h = 4, h, = b. h = , hy = -, hy = 3p. %3D P, %3D C. hx Sp. %3D %3D O d. h = 4, hy = 5 %3D e. h, = +, h, = 0 %3D

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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