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Show That the Utility Functions V(X,Y)= X^aY^1-A and U(X,Y)= a Ln(X)

Question 56

Question 56

Essay

Show that the utility functions V(X,Y)= X^aY^1-a and U(X,Y)= a ln(X)+ (1-a)ln(Y)represent the same ordering of bundles.

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ln(V(X,Y))= ln(X^aY^1-a)= ln(X^a)+ ln(...

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