Marshallian demand curve elasticities
Marshallian demand curve elasticities
I am stuck on a multiple choice question that came up on a Micro university past papers. The question is: Marshallian demand curves derived from utility function U logx log y. What is the own price elasticity, cross price elasticity, and income elasticity. The answers are -1, 0, and 1 respectively, yet I dont understand how. Many thanks
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