Consider the following utility function, u (x1,x2) = xx¹³, where 3 € (0,1) 2 (a) [15 points] Derive the Hicksian demand functions and the expenditure function. (b) [15 points] Derive the indirect utility functions.

ENGR.ECONOMIC ANALYSIS
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Consider the following utility function,
u (x1,x2) = xx¹³, where 3 € (0,1)
2
(a) [15 points] Derive the Hicksian demand functions and the expenditure function.
(b) [15 points] Derive the indirect utility functions.
Transcribed Image Text:Consider the following utility function, u (x1,x2) = xx¹³, where 3 € (0,1) 2 (a) [15 points] Derive the Hicksian demand functions and the expenditure function. (b) [15 points] Derive the indirect utility functions.
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