Sally's current income is $10,000. a). Calculate Sally's demand for X as a function of prices and incomes. Is good X normal? Please show all work. b). How much X and Y will Sally demand at current ...

The utility function can be used to derive the demand function, and both concepts relate to utility maximization.

This article obtains demand functions for risky assets without making a priori assumptions about the form of the utility function. In a simple portfolio model, the envelope theorem is applied to the ...