Sally's current income is $10,000. a). Calculate Sally's demand for X as a function of prices and incomes. Is good X normal? Please show all work. b). How much X and Y will Sally demand at current ...

This article obtains demand functions for risky assets without making a priori assumptions about the form of the utility function. In a simple portfolio model, the envelope theorem is applied to the ...

American Journal of Agricultural Economics, Vol. 91, No. 4 (Nov., 2009), pp. 1110-1123 (14 pages) In this article, we advocate more extensive use of the benefit function in specifying price-dependent ...