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Suppose that the preferences of a consumer regarding the consumption of goods q1 and q2 are represented by function: U (q1, 92) = 91 97-0
Suppose that the preferences of a consumer regarding the consumption of goods q1 and q2 are represented by function: U (q1, 92) = 91 97-0 where q1 2 0, q2 2 0, 0 0 and faces prices p, and p2 respectively for goods q, and q2.c. Consider now the dual problem. Specifically, minimise the expenditure function subject to the consumer achieving a level of utility u > 0 and derive the Hicksian demands for goods 91 and 92. Report and describe the expression of the minimised expenditure function
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