Lewis Has Preferences Given by the Cobb-Douglas Utility Function U(q₁,q₂)=

question 61

Essay

Lewis has preferences given by the Cobb-Douglas utility function U(q₁,q₂)= q₁ᵃq₂¹⁻ᵃ,where a > 0.Show that Lewis's total amount spent on each good,does not change with the prices.

---

Definitions:

Binge Drinking

The consumption of an excessive amount of alcohol in a short period of time, typically leading to acute intoxication.

Malnourished

A state of poor nutrition caused by having too little food or an unbalanced diet lacking in essential nutrients.

Bladder Control

The ability to manage the timing of urination, a function commonly affected by age, childbirth, or medical conditions.

Neglect

A form of child abuse.