Asked by Leonice
A third consumer, Larry has preferences
U
C
(
X
1
,
X
2
)=
(
X
1
+2)
2
⋅(
X
2
+3)
and the same income as Jamal and Korra. Find his optimal consumption bundle.
U
C
(
X
1
,
X
2
)=
(
X
1
+2)
2
⋅(
X
2
+3)
and the same income as Jamal and Korra. Find his optimal consumption bundle.
Answers
Answered by
J
𝑋∗1=2𝑚+6𝑃2−2𝑃13𝑃1 , 𝑋∗2=𝑚+2𝑃1−6𝑃23𝑃2
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