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jordan has the utility function (1,2) 101209 as this is a cobbdounglas function, we know that 10 of jordans income will be spent on good
jordan has the utility function (1,2) 101209 as this is a cobbdounglas function, we know that 10 of jordans income will be spent on good 1 and 90 of his income will be spent on good 2
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Hence his demand function for good 1 will be 01x and for good 2 will be 09x where x is jord...
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
