SlideShare a Scribd company logo
1 of 1
Download to read offline
6. Consider two people, Harry and Mildred. Harrys utility function is UH (L; X) = BL X ; and
Mildreds is UM (L; X) = A log L + D log X: They both have the same wage w and face the same
price p for X. No matter what (p; w) are, Harry and Mildred make the same choices. What does
that imply about (B; ; ; A; D)?

More Related Content

More from alfaknr

A bank�s balance sheet information is shown below (in $000). On Bala.pdf
A bank�s balance sheet information is shown below (in $000). On Bala.pdfA bank�s balance sheet information is shown below (in $000). On Bala.pdf
A bank�s balance sheet information is shown below (in $000). On Bala.pdf
alfaknr
 
9 Beet Stretch, by Scandinavian sound artist Leif Inge, is a soundsc.pdf
9 Beet Stretch, by Scandinavian sound artist Leif Inge, is a soundsc.pdf9 Beet Stretch, by Scandinavian sound artist Leif Inge, is a soundsc.pdf
9 Beet Stretch, by Scandinavian sound artist Leif Inge, is a soundsc.pdf
alfaknr
 
8 Mays 1984te Hannah Eisenstat, Louisiana Eyalet �niversitesinden .pdf
8 Mays 1984te Hannah Eisenstat, Louisiana Eyalet �niversitesinden .pdf8 Mays 1984te Hannah Eisenstat, Louisiana Eyalet �niversitesinden .pdf
8 Mays 1984te Hannah Eisenstat, Louisiana Eyalet �niversitesinden .pdf
alfaknr
 

More from alfaknr (20)

A certain species of ornamental maple trees grow on average of 4.6 f.pdf
A certain species of ornamental maple trees grow on average of 4.6 f.pdfA certain species of ornamental maple trees grow on average of 4.6 f.pdf
A certain species of ornamental maple trees grow on average of 4.6 f.pdf
 
A certain insecticide kills 5050 of all insects in laboratory expe.pdf
A certain insecticide kills 5050 of all insects in laboratory expe.pdfA certain insecticide kills 5050 of all insects in laboratory expe.pdf
A certain insecticide kills 5050 of all insects in laboratory expe.pdf
 
A business incurs the following costsAssume the firm produces 1 m.pdf
A business incurs the following costsAssume the firm produces 1 m.pdfA business incurs the following costsAssume the firm produces 1 m.pdf
A business incurs the following costsAssume the firm produces 1 m.pdf
 
A bowl contains 25 carnelian, 7 obsidian, and 1 jade marbles. You re.pdf
A bowl contains 25 carnelian, 7 obsidian, and 1 jade marbles. You re.pdfA bowl contains 25 carnelian, 7 obsidian, and 1 jade marbles. You re.pdf
A bowl contains 25 carnelian, 7 obsidian, and 1 jade marbles. You re.pdf
 
A bank�s balance sheet information is shown below (in $000). On Bala.pdf
A bank�s balance sheet information is shown below (in $000). On Bala.pdfA bank�s balance sheet information is shown below (in $000). On Bala.pdf
A bank�s balance sheet information is shown below (in $000). On Bala.pdf
 
A 70-year-old woman has suffered attacks of sharp, stabbing pain on .pdf
A 70-year-old woman has suffered attacks of sharp, stabbing pain on .pdfA 70-year-old woman has suffered attacks of sharp, stabbing pain on .pdf
A 70-year-old woman has suffered attacks of sharp, stabbing pain on .pdf
 
A 75 yrs old is being care for in a healthcare facility. The client .pdf
A 75 yrs old is being care for in a healthcare facility. The client .pdfA 75 yrs old is being care for in a healthcare facility. The client .pdf
A 75 yrs old is being care for in a healthcare facility. The client .pdf
 
A 3 month old infant girl is brought to the physician because of an .pdf
A 3 month old infant girl is brought to the physician because of an .pdfA 3 month old infant girl is brought to the physician because of an .pdf
A 3 month old infant girl is brought to the physician because of an .pdf
 
A 34 year old patient comes to the clinic reporting abdominal discom.pdf
A 34 year old patient comes to the clinic reporting abdominal discom.pdfA 34 year old patient comes to the clinic reporting abdominal discom.pdf
A 34 year old patient comes to the clinic reporting abdominal discom.pdf
 
9 Beet Stretch, by Scandinavian sound artist Leif Inge, is a soundsc.pdf
9 Beet Stretch, by Scandinavian sound artist Leif Inge, is a soundsc.pdf9 Beet Stretch, by Scandinavian sound artist Leif Inge, is a soundsc.pdf
9 Beet Stretch, by Scandinavian sound artist Leif Inge, is a soundsc.pdf
 
9. A stock pays quarterly dividends that total an annual rate of 5 .pdf
9. A stock pays quarterly dividends that total an annual rate of 5 .pdf9. A stock pays quarterly dividends that total an annual rate of 5 .pdf
9. A stock pays quarterly dividends that total an annual rate of 5 .pdf
 
82. Which of the following statements about cataracts is trueCa.pdf
82. Which of the following statements about cataracts is trueCa.pdf82. Which of the following statements about cataracts is trueCa.pdf
82. Which of the following statements about cataracts is trueCa.pdf
 
8. Calculate Clios taxable estate assuming that Marcel passes away .pdf
8. Calculate Clios taxable estate assuming that Marcel passes away .pdf8. Calculate Clios taxable estate assuming that Marcel passes away .pdf
8. Calculate Clios taxable estate assuming that Marcel passes away .pdf
 
8. Explain the concept of interest and compare it to rate of interes.pdf
8. Explain the concept of interest and compare it to rate of interes.pdf8. Explain the concept of interest and compare it to rate of interes.pdf
8. Explain the concept of interest and compare it to rate of interes.pdf
 
8 Mays 1984te Hannah Eisenstat, Louisiana Eyalet �niversitesinden .pdf
8 Mays 1984te Hannah Eisenstat, Louisiana Eyalet �niversitesinden .pdf8 Mays 1984te Hannah Eisenstat, Louisiana Eyalet �niversitesinden .pdf
8 Mays 1984te Hannah Eisenstat, Louisiana Eyalet �niversitesinden .pdf
 
7z-6=0 plete your answer. OneSolution Two Solutions.pdf
7z-6=0 plete your answer. OneSolution Two Solutions.pdf7z-6=0 plete your answer. OneSolution Two Solutions.pdf
7z-6=0 plete your answer. OneSolution Two Solutions.pdf
 
7. There are many key attributes required consideration. Based on yo.pdf
7. There are many key attributes required consideration. Based on yo.pdf7. There are many key attributes required consideration. Based on yo.pdf
7. There are many key attributes required consideration. Based on yo.pdf
 
5. Price discrimination Why do I pay more to go see a movie than y.pdf
5. Price discrimination Why do I pay more to go see a movie than y.pdf5. Price discrimination Why do I pay more to go see a movie than y.pdf
5. Price discrimination Why do I pay more to go see a movie than y.pdf
 
7. The Central Limit Theorem is important in statistics because .A.pdf
7. The Central Limit Theorem is important in statistics because .A.pdf7. The Central Limit Theorem is important in statistics because .A.pdf
7. The Central Limit Theorem is important in statistics because .A.pdf
 
5.13 Venezuelan Bolivar (A). The Venezuelan government officially fl.pdf
5.13 Venezuelan Bolivar (A). The Venezuelan government officially fl.pdf5.13 Venezuelan Bolivar (A). The Venezuelan government officially fl.pdf
5.13 Venezuelan Bolivar (A). The Venezuelan government officially fl.pdf
 

Recently uploaded

The basics of sentences session 2pptx copy.pptx
The basics of sentences session 2pptx copy.pptxThe basics of sentences session 2pptx copy.pptx
The basics of sentences session 2pptx copy.pptx
heathfieldcps1
 
Gardella_Mateo_IntellectualProperty.pdf.
Gardella_Mateo_IntellectualProperty.pdf.Gardella_Mateo_IntellectualProperty.pdf.
Gardella_Mateo_IntellectualProperty.pdf.
MateoGardella
 
Activity 01 - Artificial Culture (1).pdf
Activity 01 - Artificial Culture (1).pdfActivity 01 - Artificial Culture (1).pdf
Activity 01 - Artificial Culture (1).pdf
ciinovamais
 

Recently uploaded (20)

Web & Social Media Analytics Previous Year Question Paper.pdf
Web & Social Media Analytics Previous Year Question Paper.pdfWeb & Social Media Analytics Previous Year Question Paper.pdf
Web & Social Media Analytics Previous Year Question Paper.pdf
 
Mattingly "AI & Prompt Design: The Basics of Prompt Design"
Mattingly "AI & Prompt Design: The Basics of Prompt Design"Mattingly "AI & Prompt Design: The Basics of Prompt Design"
Mattingly "AI & Prompt Design: The Basics of Prompt Design"
 
PROCESS RECORDING FORMAT.docx
PROCESS      RECORDING        FORMAT.docxPROCESS      RECORDING        FORMAT.docx
PROCESS RECORDING FORMAT.docx
 
APM Welcome, APM North West Network Conference, Synergies Across Sectors
APM Welcome, APM North West Network Conference, Synergies Across SectorsAPM Welcome, APM North West Network Conference, Synergies Across Sectors
APM Welcome, APM North West Network Conference, Synergies Across Sectors
 
Código Creativo y Arte de Software | Unidad 1
Código Creativo y Arte de Software | Unidad 1Código Creativo y Arte de Software | Unidad 1
Código Creativo y Arte de Software | Unidad 1
 
The basics of sentences session 2pptx copy.pptx
The basics of sentences session 2pptx copy.pptxThe basics of sentences session 2pptx copy.pptx
The basics of sentences session 2pptx copy.pptx
 
Presentation by Andreas Schleicher Tackling the School Absenteeism Crisis 30 ...
Presentation by Andreas Schleicher Tackling the School Absenteeism Crisis 30 ...Presentation by Andreas Schleicher Tackling the School Absenteeism Crisis 30 ...
Presentation by Andreas Schleicher Tackling the School Absenteeism Crisis 30 ...
 
Holdier Curriculum Vitae (April 2024).pdf
Holdier Curriculum Vitae (April 2024).pdfHoldier Curriculum Vitae (April 2024).pdf
Holdier Curriculum Vitae (April 2024).pdf
 
Key note speaker Neum_Admir Softic_ENG.pdf
Key note speaker Neum_Admir Softic_ENG.pdfKey note speaker Neum_Admir Softic_ENG.pdf
Key note speaker Neum_Admir Softic_ENG.pdf
 
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
 
Sports & Fitness Value Added Course FY..
Sports & Fitness Value Added Course FY..Sports & Fitness Value Added Course FY..
Sports & Fitness Value Added Course FY..
 
Class 11th Physics NEET formula sheet pdf
Class 11th Physics NEET formula sheet pdfClass 11th Physics NEET formula sheet pdf
Class 11th Physics NEET formula sheet pdf
 
Gardella_Mateo_IntellectualProperty.pdf.
Gardella_Mateo_IntellectualProperty.pdf.Gardella_Mateo_IntellectualProperty.pdf.
Gardella_Mateo_IntellectualProperty.pdf.
 
Measures of Dispersion and Variability: Range, QD, AD and SD
Measures of Dispersion and Variability: Range, QD, AD and SDMeasures of Dispersion and Variability: Range, QD, AD and SD
Measures of Dispersion and Variability: Range, QD, AD and SD
 
How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17
 
Activity 01 - Artificial Culture (1).pdf
Activity 01 - Artificial Culture (1).pdfActivity 01 - Artificial Culture (1).pdf
Activity 01 - Artificial Culture (1).pdf
 
Mehran University Newsletter Vol-X, Issue-I, 2024
Mehran University Newsletter Vol-X, Issue-I, 2024Mehran University Newsletter Vol-X, Issue-I, 2024
Mehran University Newsletter Vol-X, Issue-I, 2024
 
Mattingly "AI & Prompt Design: Structured Data, Assistants, & RAG"
Mattingly "AI & Prompt Design: Structured Data, Assistants, & RAG"Mattingly "AI & Prompt Design: Structured Data, Assistants, & RAG"
Mattingly "AI & Prompt Design: Structured Data, Assistants, & RAG"
 
Introduction to Nonprofit Accounting: The Basics
Introduction to Nonprofit Accounting: The BasicsIntroduction to Nonprofit Accounting: The Basics
Introduction to Nonprofit Accounting: The Basics
 
Unit-V; Pricing (Pharma Marketing Management).pptx
Unit-V; Pricing (Pharma Marketing Management).pptxUnit-V; Pricing (Pharma Marketing Management).pptx
Unit-V; Pricing (Pharma Marketing Management).pptx
 

6. Consider two people, Harry and Mildred. Harry�s utility function .pdf

  • 1. 6. Consider two people, Harry and Mildred. Harrys utility function is UH (L; X) = BL X ; and Mildreds is UM (L; X) = A log L + D log X: They both have the same wage w and face the same price p for X. No matter what (p; w) are, Harry and Mildred make the same choices. What does that imply about (B; ; ; A; D)?