Write down a utility function that can represent paul

Reference no: EM132471806

Consider the following preference: Paul likes both pasta and sandwiches. He thinks that two plates of pasta are always as good as three sandwiches. Assuming that x1 and x2 are the consumptions of pasta and sandwiches, respectively. The income is m and the prices are p1 and p2, respectively.

Write down a utility function that can represent Paul's preference.

Derive the ordinary demand functions for both x1 and x2.

Draw p2-price offer curve.

Reference no: EM132471806

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