Draw max demand curve for gin g

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Suppose Max's preferences for gin (g) and tonic (t) can be represented by the utility function U(g,t)= max(2g,t)

Draw Max's demand curve for gin g when he has income 12 and the price of tonicpt is 2 : g=g(pg | pt=2,M=12)

Reference no: EM132478669

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Derive max demand function : Use Max's consumer choice problem to derive Max's demand function for gin as a function of the prices and income pg, pt and M:g=g(pg ,pt ,M).

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