Question
testing TheWalrasian demands x(p1; p2;w) is the best bundle that maximize the con- sumers utility when his/her wealth equals the minimum expenditure. Sub- stituting w
testing TheWalrasian demands x(p1; p2;w) is the best bundle that maximize the con-
sumers utility when his/her wealth equals the minimum expenditure. Sub-
stituting w = e (p1; p2; u) into the Walrasian demand functions, we obtain
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
1st Edition
978-1464146978, 1464146977
