Derive the consumer's optimal demand of x and y, respectively, when the budget constraint is px +
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Question:
Derive the consumer's optimal demand of x and y, respectively, when the budget constraint is px + qy = m and the utility function is x^p + y^p.
What I've done so far :
Deriving with respect to x and y:
px^p-1
py^p-1
Then:
(px^(p-1))/(py^(p-1)) = (x/y)^(p-1)
I'm lost after that. Please help me with steps
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