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1. Consider thefollowing utility functions. Assume x1 2 0,x2 2 0. a) U1(x1,x2) = (x1 + 4x2)2 bl U2(x1,x2) = 5361336; c) U3 (x1,x2) =
1. Consider thefollowing utility functions. Assume x1 2 0,x2 2 0. a) U1(x1,x2) = (x1 + 4x2)2 bl U2(x1,x2) = 5361336; c) U3 (x1,x2) = x1(x2 + 2) d) U4(x1,x2) = max{x1,x2} e) U5(x1,x2) = min{3x1 + x2,x1 + 3x2} Give an answer to the following question for each of the five utility functions above: Suppose the consumer is facing prices p1 = 2,132 = 1, and has an income of $20. Find the utility maximizing bundle for the consumer. Depending on the utility function, you can use algebra or geometry to find the answer. Write your answer for each utility function on a separate page
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