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2) John is a big fan of rock music. She spends her monthly allowance on discs (X) and other goods (Y). His utility function
2) John is a big fan of rock music. She spends her monthly allowance on discs (X) and other goods (Y). His utility function is U-XY. His marshallian (uncompensated) demand functions are X*=1/(2Px) and Y*=1/(2Py). a) Find John's indirect utility function and his expenditure function. U=1/(4PxPy) E=(4UPxPy)/2
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Auditing and Assurance services an integrated approach
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
14th Edition
133081605, 132575957, 9780133081602, 978-0132575959
