U=X_1+In X_2

Calculate the Marshallian demand system. Calculate indirect utility and expenditure function>

Let : (q_1^0,q_2^0)=(1,1)

(q_1^1,q_2^1)= (2, □(1/2))

Calculate the change indirect utility in going from q^0 to q^1.

Calculate the MCS under both paths. What happens if

(1-In 1⁄2)/(In 2)<I<(1-2 In 1⁄2)/(In 2) ?

Calculate the CV and the EV.

Consider third situation (q_1^2,q_2^2)=(3, □(1/3)). Calculate indirect utility and the CV for q^2and compare to q^0.

Calculate 〖CV〗^1 between q^0 and q^1

〖CV〗^2 between q^0 and q^2

Is ∆CV=〖CV〗^2-〖CV〗^1a measure of indirect utility , i.e.: ∆V=V^2-V^1?

Repeat (F) for the EV.

Under (F) and (G), what happens if 18 In 3-12 In 2>I>9 In 3-4 In 2.

### Recently Asked Questions

- Please refer to the attachment to answer this question. This question was created from CON 124 PART I.docx.

- calculate the osmotic pressure for 1% solution of NaCl at 30C temperature

- Please refer to the attachment to answer this question. This question was created from QRB501_r11_Week_6_Balance_Sheets_and_Income_Statement.xls.xlsx.