Question
A student proposed the following utility function: *ATTACHED AS AN IMAGE TO THE QUESTION* Part a) Graphically show that this proposed utility function violates average
A student proposed the following utility function:
*ATTACHED AS AN IMAGE TO THE QUESTION*
Part a) Graphically show that this proposed utility function violates average is better than extreme.
Part b) Graphically show that for this utility function, the tangency condition does not lead to optimum given prices (p1,p2) = (2,1) and m =3
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E Marketing
Authors: Raymond Frost
7th Edition INTERNATIONAL EDITION
0132953443, 978-0132953443
