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(a) Derive the Marshalian demand functions for the following utility function:
u(x1,x2,x3) = x1 + δ ln(x2) x1 ≥ 0, x2 ≥ 0
Does one need to consider the issue of "corner solutions" here?
(b) Derive the Hicksian demand functions and the expenditure function for the following utility function:
u(x1,x2,x3) =min {√x1, 2√x2, 4√x3} x1 ≥ 0, x2 ≥ 0, x3 ≥ 0
Using the expenditure function and the Hicksian demand functions that you obtained, derive the indirect utility function and the Marshalian demand function for good 1.
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Evaluate following limits. Solution Here the first two parts are actually just the basic limits including inverse tangents and can easily be found by verifying the fol
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The subsequent topic that we require to take a look at is the determinant of a matrix. The determinant is in fact a function that gets a square matrix and converts this in a number
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PLAY AND LEARN : Children can learn many basic mathematical concepts through games. They enjoy Mathematical concepts can be playing within familiar contexts. Their games also gen
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