2) Determine the demand functions of ????2 for each utility function. The price of good 1 is ????1, the price of good 2 is ????2, and income is m.

a) ????(????1, ????2 ) = ????????????{4????1, 2????2}

b) ????(????1, ????2 ) = 3????1 + 2????2

c) ????(????1, ????2 ) = 2????1 2/3 ????2 1/

2) Determine the demand functions of x2 for each utility function. The price of good 1 is p1, the price of good 2 is P2, and income is m. a) U(X1,X2) = min{4x1, 2x2} b) U(x1, X2) = 3x1 + 2x2 2/3 1/3 c) U(X1, X2) = 2x1 X2