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1. (20 points) Mac has utility over x1 and x2 given by u(x1, X2) = min { ' 3 If P1 = $1, P2 =

1. (20 points) Mac has utility over x1 and x2 given by u(x1, X2) = min { ' 3 If P1 = $1, P2 = $1, and I = $100, find the value of x1*. (Hint: This is Leontief utility, the kind with right-angled indifference curves)

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