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Hello, is there anyone who can help me to solve the following problem 1. Question [Special cases of CES (based on MWG: 3.C.6 & 3.D.5,

Hello, is there anyone who can help me to solve the following problem

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1. Question [Special cases of CES (based on MWG: 3.C.6 & 3.D.5, p.97)] Consider the now-familiar constant elasticity of substitution (CES) utility function over two goods: u(x) = (ri+12)1/p. (1) (a) Show that when p = 1, indifference curves become linear. (b) Show that as p -+ 0, this utility function comes to represent the same preferences as the Cobb-Douglas utility function u(x) = I, I2 . [Hint: Start from the monotonically transformed utility function u(x) = In[1/2u(x)] and remember L'Hopital's rule.] (c) Show that as p - -co, indifference curves become "right angles"; that is, this utility function has in the limit the indifference map of the Leontief utility function u($1, 12) =min(21, 12). [Hint: Use the Squeeze Theorem: For three functions g(.), f(.) and o(.) from 0 to R such that g(0)

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