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Q1) Sam has a utility fcn:  U(x1,x2) = 3x12 + x23

further suppose Px1 = 1 and Px2 = 1.  Also Income = 4

Sam has to consume at least one unit of both goods to survive, and he can only consume whole amounts of each good, meaning he can't consume fractions of either good. Using survival constraint coupled with his budget constraint tell me what bundle (amounts of x1 and x2) maximizes his utility.

 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M922921

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