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(a) Determine the demands for good 1 of consumers and the firm. Solution: The UMP of consumer A is max In(x4) + In(x4) s.t. pixf

(a) Determine the demands for good 1 of consumers and the firm. Solution: The UMP of consumer A is max In(x4) + In(x4) s.t. pixf + x2 = P17 + Follow the typical process of UMP, - 4 4p1 A P1+1 = 4

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