by | Mar 31, 2022 | Economics
Econ 310 Microeconomic Theory II Solutions to Midterm Exam Winter 2018 Solution 1 (a) The utility function is of the Cobb-Douglas form. It follows immediately that the Marshallian demand is: x1 = y y ; x2 = : 2p1 2p2 Therefore, the indirect utility function is v= p a...
