EBK PEARSON ETEXT MICROECONOMICS -- ACC
9th Edition
ISBN: 9780136850892
Author: Rubinfeld
Publisher: VST
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Question
Chapter 12, Problem 4E
(a)
To determine
The reaction
(b)
To determine
The output of each firm.
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and u (C1, C2)
=
1/2
=
f) Derive analytically and show graphically the solution under other util-
ity functions such as u (C1, C2) ac₁+bc2 where a, b > 0, u (C1, C2) = ac₁+bc1/2
acbc2 (assume that the agent is sufficiently rich to
avoid the corner solution). What of these utility functions reflects best your
own preferences (or indicate other utility function that represent your pref-
erences).
not use ai please don't
not use ai please
Chapter 12 Solutions
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