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Ann's utility function is u(x 1 , x 2 ) = 5(x 1 ) 2 (x 2 ) 2 . Price of good 1 is
Ann's utility function is u(x1, x2) = 5(x1)2(x2)2. Price of good 1 is p1, price of good 2 is p2, and her income is m.
a. Her demand function for good 1 is x1 =
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Economics Today The Macro View
Authors: Roger LeRoy Miller
19th Edition
0134478762, 978-0134478760
