econ 400b-2015 assignment 2 (1) - Economics 400B Advanced Microeconomics Autumn 2015 Assignment 2 Due Oct 22 1 Denote the prices by and income by For

# econ 400b-2015 assignment 2 (1) - Economics 400B Advanced...

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Economics 400B: Advanced Microeconomics Autumn 2015 Assignment 2 Due: Oct. 22 1. Denote the prices by and , income by . For each of the following utility functions: (a) (   ) = + 2  + (b) (   ) = + (c) (   ) = + 3 (d) (   ) =  + (e) (   ) = + ln derive the demand functions and the corresponding indirect utility functions; verify that the demand functions and indirect utility function for (d) is homogenous

Unformatted text preview: of degree 0 in , , and . [You may use the properties on these utility functions from Assignment One in deriving the demand functions, use graph if necessary] 2. Find the demand functions for the following utility functions: (a) ( ) = max { 2 } (b) ( ) = min { 2 } 2...
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• Winter '16
• wenquan
• Economics, Utility, demand functions, following utility functions, 

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