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Find the approximate change in total utility

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Reference no: EM131587675

Question: Application exercise. Suppose that the total utility, U, that a consumer obtains from the consumption two goods, x and y, is given by the function U = f (x, y) = xαy1-α. Find the approximate change in total utility when both x and y change by infinitesimally small amounts.

Reference no: EM131587675

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