Consumer utility maximizing choices

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A consumer has a utility function: u(x1, x2) = ax1 + bx2, where a and b are positive numbers. The consumer has an income m = 10 and can buy goods at the prices (p1, p2) = (2,1). What are the consumer's utility maximizing choices subject to the budget constraint when a/b = 3, a/b = 2, and a/b = 1?

Reference no: EM131220286

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Consumer utility maximizing choices : A consumer has a utility function: u(x1, x2) = ax1 + bx2, where a and b are positive numbers. The consumer has an income m = 10 and can buy goods at the prices (p1, p2) = (2,1). What are the consumer's utility maximizing choices subject to the bu..
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