Micro Economics / Macro Economics Spokane Falls Commnity College SFCC Econ 201/202
20th Edition
ISBN: 9781308227511
Author: McConnell Brue Flynn
Publisher: McGraw Hill
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Chapter 16, Problem 3DQ
To determine
Relation between Henry George’s proposal for a single tax on land and supply elasticity of land.
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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).
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Chapter 16 Solutions
Micro Economics / Macro Economics Spokane Falls Commnity College SFCC Econ 201/202
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