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Consider a two good exchange economy with two individuals a

Consider a two good exchange economy with two individuals, A and B. A’s preference is represented by UA = 0.3 lnxa1 + 0.7 lnxa2 and B’s is represented by UB = .8lnxB1 + .2lnxb2. A’s initial holding is (10,4) and B’s is (8,12).

Calculate the demand function for each of A and B.

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Macroeconomics: Consider a two good exchange economy with two individuals a

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: Consider a two good exchange economy with two individuals a

Reference No:- TGS0669872

Have a Question? (oR Write a Review)

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Solution Preview :

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Macroeconomics: Consider a two good exchange economy with two individuals a

Reference No:- TGS0669872

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