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Topic: Excercise 1.49
Conf: Chapter 1, Consumer Theory, Msg: 13823
From: jiangtao liu (oldfarmer@mail.shufe.edu.cn)
Date: 12/22/2003 07:58 AM
Excercise 1.49 jiangtao liu oldfarmer oldfarmer@mail.shufe.edu.cn
Dear Geoffrey Jehle:
I have a question about the indirect utility function v(p,y)=G(A(p)+..), not the exercise itself.
We know, the indirect utility function is homogenous of degree zero in (p,y). But look at v(p,y)=G(A(p)+..), it's hard to believe that it has the property! I am confused and expect a clear answer as a Christmas gift.
Best wishes
oldfarmer