A consumer of two goods faces positive prices for both

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A consumer of two goods faces positive prices for both goods and has positive income. Her preferences over consumption of good 1 and good 2 are represented by the following utility function:

u( \(x_{1} , x_{2}\) ) = min{ \(2x_{1} + x_{2} ; x_{1} + x_{2}\) }

Draw the indifference curve for U = 20.

For what values of p1/p2 will the optimum be \(x_{1} = 0\)

If neither x1 and x2 is equal to zero and the optimum is unique, what must be the value of x1/x2?

Reference no: EM13378353

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