Question: Hi, Please help me answer this question. Question [5]: In preparation for the next assignment, in which we will look a bit at EV and
Hi,
Please help me answer this question.
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Question [5]: In preparation for the next assignment, in which we will look a bit at EV and CV, derive the Hicksian demand function for 1. (Cobb-Douglas) u(x) = rix2 ch a; a E (0, 1). 2. (Leontief) u(x) = min{ax1, x2}, a > 0. 3. (perfect substitute) u(x) = ar + 12; a > 0
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