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Economic. 7. Let u(X1, X2) = 0.3In (x1) + 0.71n (X2). These represent preferences that are smooth and convex. The demand for this consumer must

Economic.
7. Let u(X1, X2) = 0.3In (x1) + 0.71n (X2). These represent preferences that are smooth and convex. The demand for this consumer must be in the interior. Find the demand for this consumer when the budget is m and the prices of Good I and Good 2 are p, and p2 respectively. What happens to demand of Good 1 when p, is doubled (becomes 2p1)

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