I need an answer to 2nd question. You sent it to me, but it is not written in a readable way. Please, answer my 2nd question accurately. 2. The utility function is given by u(x,,x,)- In x, +– In x,. Check whether the following4ôg(p.1) _ ôf,(p.u)_ô9(p.1)др,Marshallian demand function, f(p,u) – the Hicksian demand function.Slutsky equation· P,(p,1) is satisfied. (p,1) - the

A demand function represents the relationship between the quantity demanded of a good or service and…

2. The utility function is given by u(x₁,x2)==lnx +±ln x₂. Check whether the following Slutsky equation 1 1 4 (p.1) дрг f(pu)_ĉo (p.1) ap2 ·Q2(p,1) is satisfied. (p,I) - the al Marshallian demand function, ƒ(p,u) – the Hicksian demand function.

2. The utility function is given by u(x₁,x2)==lnx +±ln x₂. Check whether the following Slutsky equation 1 1 4 (p.1) дрг f(pu)_ĉo (p.1) ap2 ·Q2(p,1) is satisfied. (p,I) - the al Marshallian demand function, ƒ(p,u) – the Hicksian demand function.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

I need an answer to 2nd question. You sent it to me, but it is not written in a readable way. Please, answer my 2nd question accurately.

2. The utility function is given by u(x,,x,)
- In x, +– In x,. Check whether the following
4
ôg(p.1) _ ôf,(p.u)_ô9(p.1)
др,
Marshallian demand function, f(p,u) – the Hicksian demand function.
Slutsky equation
· P,(p,1) is satisfied. (p,1) - the

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