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Deriving Marshallian and Hicksian Demand (Compensated and Uncompensated Demand)
Consider the utility function U(x,y)=xy subject to an Income constraint; M=px+py
Find the Marshallian and Hicksian Demand Functions for good x and good y .
These two types of demand functions compliment each other. Hicksian Demand concerns minimising the costs associated with attaining a particular level of utility, Marshallian Demand concerns maximising utility for a given level of income.
Economics Playlist
Derivation of Marshallian Demand Functions from Utility Functions: • Derivation of Marshall...
Derivation of Marshallian Demand Functions from Utility Functions (II): • Derivation of Marshall...
Derivation of Hicksian Demand Functions from Utility Functions:
• Derivation of Hicksian...
Deriving Marshallian and Hicksian Demand Functions (compensated and uncompensated demand):
• Deriving Marshallian a...
Derivation of a Generalised (n-good) Marshallian Demand Function from Utility Function.
• Derivation of a Genera...
Deriving Hicksian (compensated) Demand Using the Slutsky Equation:
• Deriving Hicksian (com...
Deriving Marshallian Demand From a Stone-Geary Utility Function:
• Deriving Marshallian D...
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