Acetic acid (data page): Difference between revisions

From formulasearchengine
Jump to navigation Jump to search
← Older edit
en>Bgwhite
WP:CHECKWIKI error fix #28. Table problem. Do general fixes and cleanup if needed. - using AWB (9793)
en>Octalz
m removed broken link to SIRI, added MSDS from EM SCIENCE
 
Line 1: Line 1:
In [[economics]], a consumer's '''indirect utility function'''
I would like to introduce myself to you, I am [http://Search.un.org/search?ie=utf8&site=un_org&output=xml_no_dtd&client=UN_Website_en&num=10&lr=lang_en&proxystylesheet=UN_Website_en&oe=utf8&q=Natalie&Submit=Go Natalie] and I love it. She is an workplace supervisor but she plans on changing it. Delaware is where we've been residing for many years but my husband desires us to transfer. Bottle tops gathering is the only pastime my wife doesn't approve of. See what's new on my website right here: http://www.allcaliforniacremation.com/UserProfile/tabid/90/userId/30369/Default.aspx<br><br>
<math>v(p, w)</math> gives the consumer's maximal [[utility]] when faced with a [[price level]] <math>p</math> and an amount of [[income]] <math>w</math>.  It represents the consumer's preferences over market conditions.


This function is called indirect because consumers usually think about their preferences in terms of what they consume rather than prices.  A consumer's indirect utility <math>v(p, w)</math> can be computed from its utility function <math>u(x)</math> by first computing the most preferred bundle <math>x(p, w)</math> by solving the [[utility maximization problem]]; and second, computing the utility <math>u(x(p, w))</math> the consumer derives from that bundle. The indirect utility function for consumers is analogous to the [[profit function]] for firms.
Stop by my weblog [http://www.allcaliforniacremation.com/UserProfile/tabid/90/userId/30369/Default.aspx nya online svenska casinon på nätet]
 
Formally, the indirect utility function is:
 
*Continuous on R<sup>n</sup><sub>++</sub>+ R<sub>+</sub>;
*Decreasing in prices;
*Strictly increasing in income;
*[[homogeneous function|Homogenous]] with degree zero in prices and income; if prices and income are all multiplied by a given constant the same bundle of consumption represents a maximum, so optimal utility does not change.
* [[Quasiconvex function|quasi convex]] in (p,w);
Moreover,
*Roy's identity: If v(p,w) is differentiable at <math>(p^0, w^0)</math> and <math>\frac{\partial v(p,w)}{\partial w} \neq 0</math>, then
<math>
-\frac{\partial v(p^0,w^0)/(\partial p_i)}{\partial v(p^0,w^0)/\partial w}=x_i (p^0,w^0),
i=1, \dots, n.
</math>
 
==References==
* Andreu Mas-Colell, Michael D. Whinston, Jerry R. Green, 2007. ''Microeconomic Theory'', Indian Edition, pp.&nbsp;56–57: ''The Indirect Utility Function''.
*Jehle, G. A. and Reny, P. J. 2011. "Advanced Microeconomic Theory", Third Edition: Prentice Hall, pp.&nbsp;28–33.
 
{{DEFAULTSORT:Indirect Utility Function}}
[[Category:Utility]]

Latest revision as of 05:20, 22 April 2014

I would like to introduce myself to you, I am Natalie and I love it. She is an workplace supervisor but she plans on changing it. Delaware is where we've been residing for many years but my husband desires us to transfer. Bottle tops gathering is the only pastime my wife doesn't approve of. See what's new on my website right here: http://www.allcaliforniacremation.com/UserProfile/tabid/90/userId/30369/Default.aspx

Stop by my weblog nya online svenska casinon på nätet

Retrieved from "https://en.formulasearchengine.com/index.php?title=Acetic_acid_(data_page)&oldid=240871"