Question

In: Economics

Write the demand functions for the following utility function: U = ln(x) + ln(y)

Expert Solution

Utility Function: U = ln(x) + ln(y)

Now,

Put value of y in equation of I.

-------------------------- Demand function of x

Put value of x in equation of y.

-------------------------- Demand function of y

Rahul Sunny answered 3 years ago

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