Question
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 =
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 Theory and Applications with Calculus
Authors: Jeffrey M. Perloff
3rd edition
133019934, 978-0133019933
