Economics · Consumer Theory
If a consumer's Marshallian demand function is homogeneous of degree zero, satisfies symmetry, and obeys the negativity condition, then:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Hicksian demand must be linear in prices
- 2The demand system is consistent with utility maximization✓
- 3Preferences can be represented by a strictly concave utility function
- 4Preferences must be locally nonsatiated only
Correct answer
The demand system is consistent with utility maximization
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