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Dear tutors please help me to solve the following problem. A consumer care only about two goods x 1 and x 2 and his/her preferences
Dear tutors please help me to solve the following problem.
A consumer care only about two goods x1 and x2 and his/her preferences are represented by the utility function; u(x1, x2)=min{ax1, bx2} with a>b. The prices of goods are p1 and p2 and consumer's income is denoted by m.
Verify Roy's Identity and determine his/her Hicksian demand functions.
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