EBF 301 – Derive demand functions for X and Y
Suppose U(X;Y)=a X+b Y where a>0;b>0: MUX =a and MUY =b: a) (10 points) Derive demand functions for X and Y: Show your work. b)(10 points) Graph demand for X at I=100;p Y =1,a=2;b=1:
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