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Consumer purchase as a function

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Reference no: EM132219854

1) Suppose that the utility function is given as u(x)=2ln(x1) + 3ln(x2). (Note 1: The preferences represented by this utility function is strictly convex and monotonic. Note 2: d/dx (ln(x))= 1/x )

a) How much of commodity 1 (x1) and commodity 2 (x2) will the consumer purchase as a function of p1, p2, and m?

Reference no: EM132219854

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