Reference 〉Function

CES.demand( num income, dict{str:num} prices )

Calculates the total demand for the various goods given some income. See the derivation from the utility function here.

Parameters

  • income num, required

    The amount of income available to spend on the goods in question. In a barter model this will be the quantity of the numeraire good, and the price of the numeraire in the next argument will be 1.

  • prices dict{str:num}, required

    The prices of the various goods, either absolute (in terms of a monetary good) or relative (in terms of a numeraire good, in which case the price of that numeraire good should be 1).

Return Value dict{str:num}

The gross demands for the various goods.

Notes and Examples

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