(Answered) Consider the CES (Constant Elasticity of Substitution) utility functionConsider the CES (Constant…

➤ How do you derive Marshallian demand from a CES utility?
Maximize CES utility subject to a budget using a Lagrangian. First-order conditions produce consumption ratios determined by α_i and prices p_i. Solve those ratios with the budget constraint to get demands proportional to α_i^σ p_i^{-σ}. The CES price index P = (Σ_j α_j p_j^{1-σ})^{1/(1-σ)} yields a compact demand expression.