Find for what values of p1/p2 will the optimum

Reference no: EM13177591

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(x1; x2) = min {2x1 + x2; x1 + 2x2}
a. Draw the indierence curve for u(x1; x2) = 20.
b. For what values of p1/p2 will the optimum be x1 = 0?
c. If neither x1 and x2 is equal to zero and the optimum is unique, what must be the value of x1/x2?

Reference no: EM13177591

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