Solve the optimal choice problem for agent i

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Reference no: EM13245159

The following utility function represents the preferences of agent i over two goods x1 and x2:

ui(x1,x2) = 3√x1 + x2

a)Solve the optimal choice problem for agent i if p1 = p2 = 1; and I=15

b)How does this answer in part a change if income doubles?

Reference no: EM13245159

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