If the price of good x1 and p1 = 2, the price of good x2 is p2 = 3, Kramer's available income is m =16, write down kramers budget constraint

Microeconomic Theory
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ISBN:9781337517942
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Chapter3: Preferences And Utility
Section: Chapter Questions
Problem 3.3P
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If the price of good x1 and p1 = 2, the price of good x2 is p2 = 3, Kramer's available income is m =16, write down kramers budget constraint.

B4) Suppose Kramer's utility for goods x1 and x2 is represented by the following utility
function: U(x1,X2) = x¡' `x2'
1/4,3/4
Transcribed Image Text:B4) Suppose Kramer's utility for goods x1 and x2 is represented by the following utility function: U(x1,X2) = x¡' `x2' 1/4,3/4
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