4. Demand function For any p and w are strictly positive, the corresponding demand set x(p, w)are nonempty, if x(p, w) is single point, we call it the Walrasian( marshallian) demand function x(p, w)is homogenous of degree zero and satisfied Walras'law. That is px-w for all X∈x(p,w)andp>0,w>0 (we will prove them next lecture) lecture for Chu Kechen Honors Collegelecture4 for Chu Kechen Honors College 4.Demand function ➢ For any p and w are strictly positive, the corresponding demand set x(p,w) are nonempty, if x(p,w) is single point, we call it the Walrasian( Marshallian) demand function. ➢ x(p,w) is homogenous of degree zero and satisfied Walras’ law. That is px=w for all (we will prove them next lecture) x x p   ( , ) and 0, 0 w p w