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Business, 10.11.2019 03:31 xchnemymp

There are two consumer goods, x1andx2. consumers all have income given bym, and a utilityfunctionu(x1, x2) =aln(x1) +ln(x2). the price of the two goods are p1and p2.(a) find the individual demand functions for 1and 2.(b) the parameteradiffers across consumers. type a consumers havea= 1. type bconsumers havea= 2. if there is one type a person and two type b people, what ismarket demand for good 1

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There are two consumer goods, x1andx2. consumers all have income given bym, and a utilityfunctionu(x...

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