Consider an individual choosing their level of consumption regarding x1 and x2 at prices P1 and P2 respectively, who has the following utility function: U=x11x21 a) [6 marks] Determine the demand functions for x1 and x2 b. [2 marks] Characterize utility as a function of prices and income c. [2 marks] What is the marginal utility of income? Consider an individual choosing their level of consumption regarding x1 and x2 at prices P1 and P2 respectively, who has the following utility function: U=x11x21 a) [6 marks] Determine the demand functions for x1 and x2 b. [2 marks] Characterize utility as a function of prices and income c. [2 marks] What is the marginal utility of income