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19-10-2022
Business

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The Cobb-Douglas production function is given as (, ) = Xα Y1-α
Where > 0, ( − 1) > 0, and + (1 − ) = 1 Derive:
(a) The Marshallian demand
(b) The marginal utility of income
(c) The direct utility function
(d) The indirect utility function

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