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er has demand function = and Can the demand function be used to determine which of the situation or =2,1,100) is better from the consumer perspective?...

This question was answered on Jan 24, 2013. View the Answer
Midretake- Problem 3- Advanced microeconomics - General Equilibrium
A consumer has demand function

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A consumer has demand function = and Can the demand function be used to determine which of the situation or =2,1,100) is better from the consumer perspective? If yes, explain how it can be done and do it. If no, explain fully why it cannot be done. Reminder:
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A consumer has demand function x1 ( p1 , p 2 , w) = w
5w
and x 2 ( p1 , p 2 , w) =
6 p1
6 p2 Can the demand function be used to determine which of the situation ( p1 , p 2 , w) = (2,4,200) or ( p1...

This question was asked on Jan 23, 2013 and answered on Jan 24, 2013.

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