Question 4: Ray gets utility from apricots and blueberries U(a, b) = a/32/3 a. What are...

 

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Question 4: Ray gets utility from apricots and blueberries U(a, b) = a¹/32/3 a. What are Ray's Hicksian demand functions? b. If pa = 4, P = 1, how much does it cost Ray to achieve 12 utils? c. What is the maximum utility achievable with $18? Is there a way to know that without deriving the Marshallian demand functions? d. How much utility can be gotten with $36 dollars? e. What are Ray's Marshallian demand functions? f. What is the derivative of Ray's Marshallian demand with respect to the price of apples, Ja (Pa P.)? opa g. What is the derivative of Ray's Marshallian demand with respect to income, (ppm)? om h. Show 2 ways of deriving the derivative of Hicksian demand with respect to the price of apples (S())? Question 4: Ray gets utility from apricots and blueberries U(a, b) = a¹/32/3 a. What are Ray's Hicksian demand functions? b. If pa = 4, P = 1, how much does it cost Ray to achieve 12 utils? c. What is the maximum utility achievable with $18? Is there a way to know that without deriving the Marshallian demand functions? d. How much utility can be gotten with $36 dollars? e. What are Ray's Marshallian demand functions? f. What is the derivative of Ray's Marshallian demand with respect to the price of apples, Ja (Pa P.)? opa g. What is the derivative of Ray's Marshallian demand with respect to income, (ppm)? om h. Show 2 ways of deriving the derivative of Hicksian demand with respect to the price of apples (S())?

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It appears that there might be some notations missing in your question particularly in parts a f and g However Ill provide guidance based on whats pre... View the full answer