Deduce optimal demand-marshallian demand function
(a) Given the following monotonically transformed utility function faced by the consumer
lnU(X, Y) = 0.5lnX+0.5 lnY
The price of good X is Px and the price of good Yis Py. Derive the optimal demand (Marshallian demand) function for X and for Y.
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The price of good X is Px and price of good Yis Py. Deduce optimal demand (Marshallian demand) function for X and for Y.
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