Marshallian demand function
From Wikipedia, the free encyclopedia.
(Redirected from Marshallian demand correspondence)
In microeconomics, a consumer's Marshallian demand function specifies what the consumer would buy in each price and wealth situation, assuming it perfectly solves the Utility Maximization Problem. Marshallian demand is sometimes called Walrasian demand instead, because the original Marshallian analysis ignored wealth effects.According to the Utility Maximization Problem, there are L commodities with prices p. The consumer has wealth w, and hence a set of affordable packages
- .
- .
- .