Question
Suppose that the consumer's indirect utility function is given by: v(p, y) = y/(a(p1)+B(p2)), where p1, p22 and y are prices and income and where
Suppose that the consumer's indirect utility function is given by: v(p, y) = y/(a(p1)+B(p2)), where p1, p22 and y are prices and income and where a and b are positive parameters. Derive the consumer's direct utility function.
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The End Of Poverty Economic Possibilities For Our Time
Authors: Jeffrey D Sachs, Bono
1st Edition
0143036580, 9780143036586
