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Yichen has a utility function U(x1, x2) = 4(JC1)1/2 + x2. where x1 is his consumption of apples and x2 is his consumption of berries.
Yichen has a utility function U(x1, x2) = 4(JC1)1/2 + x2. where x1 is his consumption of apples and x2 is his consumption of berries. Suppose the price of apples is $1, price of berries is $2, and income $24. How many apples would she buy? how many berries? Illustrate your solution with a diagram including an indifference curve and budget constraint
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