Examlex
A consumer has preferences given by the constant elasticity of substitution utility function:
U(q1,q2)= (q1.5 + q2.5)2
a.Write the Lagrangian for the consumer's maximization problem.
b.Use the Lagrangian to solve for the optimal quantities in terms of the prices and income.
Q1: Which of the following statements best describes
Q13: Consumer surplus from a given purchase is
Q19: Consider the following short-run production function: q
Q31: Suppose that the interest rate paid to
Q37: Sandy's current consumer surplus for candy is
Q53: Suppose the typical consumer only purchases food
Q62: In the long run,all factors of production
Q65: Let the production function be q =
Q102: When measuring the substitution effect,one uses the
Q127: If two indifference curves were to intersect