Question

Question 13 0/1 pts respectively, and income is M, what is the Consider a consumer with a utility function u = 1/2 3/2. If the prices for goods 1 and 2 arep, and consumer's optimal consumption of good 1? x1 = M/(3p2) Correct Answer xi = M/(41) You Answered x1 = 3M/(41) x = 4MP1/(p2) None of the above Question 14 1/1 pts Consider a consumer with a utility function y = x1/23/2. If the prices for goods 1 and 2 are p, and p, respectively, and income is M, what is the consumer's optimal consumption of good 2? x3 = M/(4p2) Correct! x3 = 3M/(4p2) x3 = 3M/(P2) x3 = 3M/2p2) None of the above

Answer 1

13) 0= xi x2 Ź - 3/2 2x2 = 3 X1 X2 MRS = mu, Muz 2 X2 -72 X2 3) 1 x 42 x 42 At optimal choice MRS = X2 3x) x2 = BL: PIXI + P x2 = m

put x2= ( B ) 3x, in equ- ③ Pixit P2 X2 = m. Prxit 36 Pi 3x1 = m - PEXIT 3 PIXI чPixi = xit = m м m. 4P, X 2 = (s) 3 ( m ) X2 = 3m. u P2 x2 u= x2x2² by = mo = Son = muz = 2X1 X2 X2 mes = more muz 2x1x2 X2 281 At optimal choice MRs = p X2 = CP, 12x1 P2 put x2 = (P) 2x in budget constrocent

Pixl+ P2 X2 = m - Pixit & (Pr ) 2x1=m Pixit 2018, =m 3 Pix, = m m xizmanto 3P X2 x2 = ( ) x2 am 32 - 177 P2=2, m=30 3P) = lehet halm Pr =