1. Business
  2. Economics
  3. please write neatly...

Question: please write neatly...

Question details

Given: U(x2)min(3x, ,6x2) P = 4, P-5, 1-20 a) Graph two indifference curves for this utility function. b) Write the function for the budget constraint and graph it c) What are the utility maximizing amounts of x, and x, given the budget constraint? d) Would your answer change if the utility function were U(x1,x2)-min(x,,2%)? Why or why not?


Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution