Find demand functions for a consumer who has well-behaved preferences represented by u = x12 1 2 + 6√ x and a standard budget constraint with prices pand pand income m. Is each good ordinary or Giffen?
Find demand functions for a consumer who has well-behaved preferences represented by u = x12 1 2
+ 6√ x and a standard budget constraint with prices pand pand income m. Is each good ordinary or Giffen? Normal or inferior?
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