A consumer has utility function given by : u{x1,x2} = min {2x1+x2, x1+2x2}. Given income m = 100, prices p1 = 20, p2 = 30, the amount of x1 in her utility maximizing bundle is:
2x1+x2 = x1+2x2 S0, x1 = x2 Equate x1=x2 then put this in budget line. Solve for equilibrium bundle of x1 and x2. So, 20x1 + 30x2 = 100 50x1 = 100
X1 = 2 = x2
What is the primary occupation of people in the Bundelkhand region of Uttar Pradesh?
The 'e-Kisan Upaj Nidhi' platform simplifies the digital process for farmers, enabling them to store their produce at any registered WDRA warehouse for ...
Mohan Juneja passed away recently, he hails from which profession?
During whose reign did the famous traveler Fa Hien visit India?
What recent (April 2024) announcement did the National Stock Exchange (NSE) make regarding derivatives contracts?
Who is the recipient of UNESCO Peace Award?
The Union Home Minister Amit Shah inaugurated a conference on drug trafficking and national security in which place of India?
Who has been appointed as the Ambassador of India to Kuwait?
Which organization launched the World Migration Report 2024?
Narayan Debnath who has passed away recently, who was he?