Solve it plxxx

2. You have preferences represented by the following utility function a [$1,222] = (931 + 2) [$2 + 10) (a) Calculate your marginal utility for $1 and 222. (b) What is your marginal rate of substitution between 531 and 332? (c) Say that your budget constraint is 191171 + P2332 = m where m is your income and p1 and p2 are the prices of (1:1 and :32, respectively. Solve for the demand functions for 2:1 and :13: by equating the marginal rate of substitution with the slope of the budget constraint. (d) Based on the demand functions that you derived in Part c, are 331 and 1:2 substitutes, complements, or neither? 3. You have preferences represented by the following utility function u(9:1,12)= $1 + 32:2 Your budget constraint is P1371 +P2$2 = m where 391 and p2 are the prices of $1 and 32, respectively, and m is your income, Activate V'- (a) What is your marginal rate of substitution between 551 and 272? Go ,0 Seal-1r; (b) What are your demand functions for 1121 and 272 if p1 > 192