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Jehle & Reny: Exercise 2.6 A consumer has expenditure function e(p1,p2,u) = up1/p2/(p1 +p2). Find a direct utility function u(x1,x2), that rationalizes this person's demand
Jehle & Reny: Exercise 2.6
A consumer has expenditure function e(p1,p2,u) = up1/p2/(p1 +p2). Find a direct utility function u(x1,x2), that rationalizes this person's demand behavior.
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