demand function from utility

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thanks in advance.
I’m looking to find a way (apart from Lagrange and MUx/MUy=Px/Py) to derive demand function for x, not y. You see, whenever I try solving the problem, I get y’s Demand instead of x.
I have a function, $u(x,y)= 2sqrtx + y$
whenever I differentiate and then put in the budget constraint equation, I end up getting the result of differentiation of x and the demand for y.
For example, $$ MUx = frac1 sqrtx $$
$MUy=1$,
$$fracMUxMUy = fracPxPy$$
$$frac1sqrtx = fracPxPy$$
$$ x = fracPy^2Px^2$$
then, substituting x in Budget constraint equation yields $$ y = fracMPy - fracPyPx$$ with the impossibility to find x’s demand (or maybe I just don’t understand it)
MUx, MUy are marginal utilities of goods x and y respectively
Px, Py are prices of these goods
M is income, that comes from budget constraint equation (Px * x +Py * y=M)
derivatives economics utility
add a comment |Â
up vote
0
down vote
favorite
thanks in advance.
I’m looking to find a way (apart from Lagrange and MUx/MUy=Px/Py) to derive demand function for x, not y. You see, whenever I try solving the problem, I get y’s Demand instead of x.
I have a function, $u(x,y)= 2sqrtx + y$
whenever I differentiate and then put in the budget constraint equation, I end up getting the result of differentiation of x and the demand for y.
For example, $$ MUx = frac1 sqrtx $$
$MUy=1$,
$$fracMUxMUy = fracPxPy$$
$$frac1sqrtx = fracPxPy$$
$$ x = fracPy^2Px^2$$
then, substituting x in Budget constraint equation yields $$ y = fracMPy - fracPyPx$$ with the impossibility to find x’s demand (or maybe I just don’t understand it)
MUx, MUy are marginal utilities of goods x and y respectively
Px, Py are prices of these goods
M is income, that comes from budget constraint equation (Px * x +Py * y=M)
derivatives economics utility
Welcome to MSE. For some basic information about writing mathematics at this site see, e.g., basic help on mathjax notation, mathjax tutorial and quick reference, main meta site math tutorial and equation editing how-to.
– José Carlos Santos
Sep 10 at 9:15
It's tricky to understand the question. What do MU, M and P mean?
– Matti P.
Sep 10 at 10:05
I think you already have the demand for $x$, when you derive $x=fracP^2_xP^2_y$. Verify by taking your demand for $y$ and plugging it back into the budget constraint to get $x$.
– Trurl
Sep 17 at 19:38
add a comment |Â
up vote
0
down vote
favorite
up vote
0
down vote
favorite
thanks in advance.
I’m looking to find a way (apart from Lagrange and MUx/MUy=Px/Py) to derive demand function for x, not y. You see, whenever I try solving the problem, I get y’s Demand instead of x.
I have a function, $u(x,y)= 2sqrtx + y$
whenever I differentiate and then put in the budget constraint equation, I end up getting the result of differentiation of x and the demand for y.
For example, $$ MUx = frac1 sqrtx $$
$MUy=1$,
$$fracMUxMUy = fracPxPy$$
$$frac1sqrtx = fracPxPy$$
$$ x = fracPy^2Px^2$$
then, substituting x in Budget constraint equation yields $$ y = fracMPy - fracPyPx$$ with the impossibility to find x’s demand (or maybe I just don’t understand it)
MUx, MUy are marginal utilities of goods x and y respectively
Px, Py are prices of these goods
M is income, that comes from budget constraint equation (Px * x +Py * y=M)
derivatives economics utility
thanks in advance.
I’m looking to find a way (apart from Lagrange and MUx/MUy=Px/Py) to derive demand function for x, not y. You see, whenever I try solving the problem, I get y’s Demand instead of x.
I have a function, $u(x,y)= 2sqrtx + y$
whenever I differentiate and then put in the budget constraint equation, I end up getting the result of differentiation of x and the demand for y.
For example, $$ MUx = frac1 sqrtx $$
$MUy=1$,
$$fracMUxMUy = fracPxPy$$
$$frac1sqrtx = fracPxPy$$
$$ x = fracPy^2Px^2$$
then, substituting x in Budget constraint equation yields $$ y = fracMPy - fracPyPx$$ with the impossibility to find x’s demand (or maybe I just don’t understand it)
MUx, MUy are marginal utilities of goods x and y respectively
Px, Py are prices of these goods
M is income, that comes from budget constraint equation (Px * x +Py * y=M)
derivatives economics utility
derivatives economics utility
edited Sep 10 at 10:56
asked Sep 10 at 9:13
Kate
61
61
Welcome to MSE. For some basic information about writing mathematics at this site see, e.g., basic help on mathjax notation, mathjax tutorial and quick reference, main meta site math tutorial and equation editing how-to.
– José Carlos Santos
Sep 10 at 9:15
It's tricky to understand the question. What do MU, M and P mean?
– Matti P.
Sep 10 at 10:05
I think you already have the demand for $x$, when you derive $x=fracP^2_xP^2_y$. Verify by taking your demand for $y$ and plugging it back into the budget constraint to get $x$.
– Trurl
Sep 17 at 19:38
add a comment |Â
Welcome to MSE. For some basic information about writing mathematics at this site see, e.g., basic help on mathjax notation, mathjax tutorial and quick reference, main meta site math tutorial and equation editing how-to.
– José Carlos Santos
Sep 10 at 9:15
It's tricky to understand the question. What do MU, M and P mean?
– Matti P.
Sep 10 at 10:05
I think you already have the demand for $x$, when you derive $x=fracP^2_xP^2_y$. Verify by taking your demand for $y$ and plugging it back into the budget constraint to get $x$.
– Trurl
Sep 17 at 19:38
Welcome to MSE. For some basic information about writing mathematics at this site see, e.g., basic help on mathjax notation, mathjax tutorial and quick reference, main meta site math tutorial and equation editing how-to.
– José Carlos Santos
Sep 10 at 9:15
Welcome to MSE. For some basic information about writing mathematics at this site see, e.g., basic help on mathjax notation, mathjax tutorial and quick reference, main meta site math tutorial and equation editing how-to.
– José Carlos Santos
Sep 10 at 9:15
It's tricky to understand the question. What do MU, M and P mean?
– Matti P.
Sep 10 at 10:05
It's tricky to understand the question. What do MU, M and P mean?
– Matti P.
Sep 10 at 10:05
I think you already have the demand for $x$, when you derive $x=fracP^2_xP^2_y$. Verify by taking your demand for $y$ and plugging it back into the budget constraint to get $x$.
– Trurl
Sep 17 at 19:38
I think you already have the demand for $x$, when you derive $x=fracP^2_xP^2_y$. Verify by taking your demand for $y$ and plugging it back into the budget constraint to get $x$.
– Trurl
Sep 17 at 19:38
add a comment |Â
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Welcome to MSE. For some basic information about writing mathematics at this site see, e.g., basic help on mathjax notation, mathjax tutorial and quick reference, main meta site math tutorial and equation editing how-to.
– José Carlos Santos
Sep 10 at 9:15
It's tricky to understand the question. What do MU, M and P mean?
– Matti P.
Sep 10 at 10:05
I think you already have the demand for $x$, when you derive $x=fracP^2_xP^2_y$. Verify by taking your demand for $y$ and plugging it back into the budget constraint to get $x$.
– Trurl
Sep 17 at 19:38