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I would like some assistance with the following public finance economics question NB. take the log of both sides of the equations to make differentiation
I would like some assistance with the following public finance economics question
NB. take the log of both sides of the equations to make differentiation easier
More specifically the possibilities frontier equation which would be equation 4
Consider the concave utility possibilities frontier corresponding to: 1/2 U(Norman) + U2 (Edna) = 16 (eq 1) Associated with the Social Welfare Function of the form: U = U(Norman) * U(Edna) Given the utility functions of Norman and Edna as follows: ( Norman) = 19chips + 19 coke (eq 2) U(Edna) = qchips 1/4 * q coke 1/4 (eq3)Step by Step Solution
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