Question
Compute the market demand function as a function of prices and income corresponding to a Leontev utility function U(x1,x2) = min (x1,2x2) and then compute
Compute the market demand function as a function of prices and income corresponding to a Leontev utility function U(x1,x2) = min (x1,2x2) and then compute the elasticity of demand with respect to own price and the elasticity with respect to income.
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
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