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3. A consumer has utility function a (11:1, 11:2) : 21171 + x2. A. What is the consumer's demand for 331 and $2 when m
3. A consumer has utility function a (11:1, 11:2) : 21171 + x2. A. What is the consumer's demand for 331 and $2 when m = 1200 and p1 = 100 and p2 = 100? B. What is the new demand for 1131 and $2 with p1 = 300. C. What income would the consumer need to aord the bundle from part A at the new prices in part B? D. What bundle of 5:71 and :32 does the consumer demand when p1 = 300 but with income from part C? E. How much of the consumer's change in demand for 171 between part A and part B is due to substitution effect? F. How much of the consumer's change in demand for 171 between part A and part B is due to income effect
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