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       #Post#: 51--------------------------------------------------
       Q1, 2012
   DIR By: Julia.Wirtz
       Date: December 28, 2012, 11:47 am
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       Question
       I'm a bit confused with the 2012 exam first question when we
       find the marshallians demands and we have to say whether they
       are complement or substitutes. Don't we differentiate m as well?
       As it is a function of the prices ?
       Answer
       For Marshallian demands, m is not a function of the prices, it
       is
       exogenously given. However, m(hat) - the minimum expenditure -
       is a
       function of prices and needs to be differentiated.
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