u(x1, x2) = [x 1^ ρ + x2^ ρ ] ^(1 /ρ) where 0 < ρ...

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Question

u(x1, x2) = [x 1^ ρ + x2^ ρ ] ^(1 /ρ) where 0 < ρ...

u(x1, x2) = [x 1^ ρ + x2^ ρ ] ^(1 /ρ) where 0 < ρ < 1

compute the marshallian demand, indirect utility function, the expenditure function and the Hicksian demand function

business economics

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Answer 1

Answer #1

with the help of further derivation you may find hicksian demand function . It needs more simplification

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u(x1, x2) = [x 1^ ρ + x2^ ρ ] ^(1 /ρ) where 0 < ρ...

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u(x1, x2) = [x 1^ ρ + x2^ ρ ] ^(1 /ρ) where 0 < ρ...

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u(x1, x2) = [x 1^ ρ + x2^ ρ ] ^(1 /ρ) where 0 < ρ...

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Add Answer to: u(x1, x2) = [x 1^ ρ + x2^ ρ ] ^(1 /ρ) where 0 < ρ...

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u(x1, x2) = [x 1^ ρ + x2^ ρ ] ^(1 /ρ) where 0 < ρ...