2. There are two commodities X1 and X2 on which a consumer spends his entire income in a day. He has a utility function, U = x112x212. Find out the optimal quantities of X1 and X2, if prices of X1 and X2 are Rs 5 and Rs 2 respectively and his daily income equals Rs 500.

2. There are two commodities X1 and X2 on which a consumer spends his entire income in a day. He has a utility function, U = x112x212. Find out the optimal quantities of X1 and X2, if prices of X1 and X2 are Rs 5 and Rs 2 respectively and his daily income equals Rs 500.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics

Section: Chapter Questions

Problem 5WNG

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not use ai please

2. There are two commodities X1 and X2 on which a consumer spends his entire income in a
day. He has a utility function, U = x112x212. Find out the optimal quantities of X1 and X2,
if prices of X1 and X2 are Rs 5 and Rs 2 respectively and his daily income equals Rs 500.

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

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