=Mary has the following utility function: u(x, y)I = 10 and the prices originally are p = 1 and py(a) What are Mary's marshallian demands?3 ln(x) + 2y. Her income is given by= 2

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Mary has the following utility function: u(x, y) = 3 ln(x) + 2y. Her income is given by I = 10 and the prices originally are pa = 1 and p (a) What are Mary's marshallian demands? = 2

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter3: Preferences And Utility

Section: Chapter Questions

Problem 3.11P

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Mary has the following utility function: u(x, y)
I = 10 and the prices originally are p = 1 and py
(a) What are Mary's marshallian demands?
3 ln(x) + 2y. Her income is given by
= 2

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