Philips quasilinear utility function is u4q105 q2 his
Philip's quasilinear utility function is U=4q1^0.5 + q2. His budget for these goods is y=10. Originally the prices are p1=p2=1. However, the price of the first good rises to p1=2. discuss the substitution, income, and total effect on demand for q1.
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suppose there are two goods available for consumption good 1 and good 2 and the government has imposed rationing on the
philips quasilinear utility function is u4q105 q2 his budget for these goods is y10 originally the prices are p1p21
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