Consumers demand function, Microeconomics

A consumer purchases food (X) and clothing (Y). Her utility function is given by: , income is $100 and the price of food is $1 and the price of clothing is Py.

a. Derive the equation for the consumer's demand function for clothing.(15 marks)

b. Are X and Y normal goods?

Posted Date: 3/30/2013 6:15:32 AM | Location : United States







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