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    msalvador Posts: 1, Reputation: 1
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    Nov 6, 2011, 04:06 PM
    Utility function
    Hi all! Can the following cobb-douglas utility function represent preference for consuming two goods x and y where I have for the 1st a minimum consumption of 3 units/day and the second 2 units/day?
    u(x,y)= 0.7ln(x-3) 0.3ln(y-2)

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