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a If a consumer with income m has the utility function U(x 1 ,x 2 )=x 1 1/2 x 2 1/4 and p 1 =2p
- a If a consumer with income m has the utility function U(x1,x2)=x11/2x21/4
and p1=2p2, what ratio of x1 to x2 will the consumer choose?
b What is this consumer's optimal consumption bundle when p1=10, p2=5, and m=450?
c What is this consumer's optimal consumption bundle if p2 rises to 10 while p1 and m remain unchanged?
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