=+B.* Now suppose that tastes can be summarized by the CES utility function u1c,,2 5 10.5c 2r
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=+B.* Now suppose that tastes can be summarized by the CES utility function u1c,,2 5 10.5c 2r 1 0.5, 2r 2 21/r
, where c is consumption and , is leisure.
a. Are there values for r that would result in the scenario in A(a)?
b. Are there values for r that would result in the scenario in A(b)?
c. Are there values for r that would result in the scenario in A(c)?
d. Are there values for r that would result in the scenario in A(d)?
e. Are there values for r that would result in the scenarios in A
(e) and A(f)?
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Related Book For 
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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