Suppose u(x 1 ,x 2 ) 2ln(x 1 ) 8ln(x 2 ) income x 1 p 1 x 2 p 2 Find the marshallian demand, minimum expenditure function (e), hicksian demand

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Posted on Jun 13, 2024

Suppose u(x 1 ,x 2 ) = .2ln(x 1 ) + .8ln(x 2 ) income = x 1 p 1 + x 2 p 2

Suppose u(x₁,x₂) = .2ln(x₁) + .8ln(x₂)

income = x₁p₁ + x₂p₂

Find the marshallian demand, minimum expenditure function (e), hicksian demand

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