Question
1) Walrasian demand x(p, m) is homogeneous of degree 0 in price and income. They even give the idea of the proof. Carefully prove this
1) Walrasian demand x(p, m) is homogeneous of degree 0 in price and income. They even give the idea of the proof. Carefully prove this statement using appropriate mathematical notation for the case of L commodities.
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Authors: Jeffrey F Beatty, Susan S Samuelson
3rd Edition
0324537115, 9780324537116
