Question
Suppose that a consumers utility function is: *ATTACHED AS AN IMAGE TO THE QUESTION* The price of good 1 is p1. The price of good
Suppose that a consumers utility function is: *ATTACHED AS AN IMAGE TO THE QUESTION*
The price of good 1 is p1. The price of good 2 is p2, is normalized to 1.
The income is m =1
part a) solve for the demand function for x1
part b) using integration, find the consumer surplus of this consumer given p1 =1
part c) solve for the offer curve
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
