= A consumer has Marshallian demands 9x (Pa, Py, I) = I the indirect utility function V(Px, Py, I) 2√PxPy due to a small increase in py is: (a) (b) Ipy.5 2p% n0.5 I 4pxPy Up.5 (c) (d) (e) 0 2p0.5 U 4pxPy I and gy (Px, Py, I) = I 2py' = and 2px The substitution effect on good x -
= A consumer has Marshallian demands 9x (Pa, Py, I) = I the indirect utility function V(Px, Py, I) 2√PxPy due to a small increase in py is: (a) (b) Ipy.5 2p% n0.5 I 4pxPy Up.5 (c) (d) (e) 0 2p0.5 U 4pxPy I and gy (Px, Py, I) = I 2py' = and 2px The substitution effect on good x -
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:=
A consumer has Marshallian demands 9x (Pa, Py, I) =
I
the indirect utility function V(Px, Py, I)
2√PxPy
due to a small increase in py is:
(a)
(b)
Ipy.5
2p%
n0.5
I
4pxPy
Up.5
2p0.5
(c)
(d)
(e) 0
U
4pxPy
I and gy (Px, Py, I) =
and
=
2px
The substitution effect on good x
-
I
2py'
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