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A preference-maximising consumer consumes two commodities The prices of the commodities are denoted by p1 and p2 and the consumer’s income is denoted

A preference-maximising consumer consumes two commodities. The prices of the commodities are denoted by p1 and p2, and the consumer’s income is denoted by I. The indirect utility function of the consumer is: V (p1, p2, I) = I2/4p1(p2 - p1) . Find the underlying utility function that would have generated it.

May 01 2020 View more View Less

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