question archive Suppose utility follows the Stone-Geary function for two goods, a)Solve for the Marshallian demand functions, check that they add-up and that they are homogeneous of degree zero
Suppose utility follows the Stone-Geary function for two goods, a)Solve for the Marshallian demand functions, check that they add-up and that they are homogeneous of degree zero
Subject:EconomicsPrice: Bought3
Suppose utility follows the Stone-Geary function for two goods,
a)Solve for the Marshallian demand functions, check that they add-up and that they are homogeneous of degree zero.
b) Derive the Indirect Utility function
c) Confirm Roy's identity.
d) Solve the Dual problem for Hichsian demand functions.
e) Derive the Expenditure Function and confirm that it is the inverse of the indirect utility function derived in b.
f)Derive the compensated demands using Shepard's lemme, and use the indirect utility.
g) Confirm symmetry
h) Demonstrate the conditions for Slutsky matrix to the negative semidefinite.
