1 answer

Please try to go step by step in the questions (iv-vi) so i can follow along...

Question:

Name: Part (iv): Derive Hanks demand for nuts, x,(papa,M). Beet Conny. PM 2 x* - 2 O 2 Mbozudy. pi LP2 2 M P, P. P2 Part (v)
Please try to go step by step in the questions (iv-vi) so i can follow along and know how to do them, thanks!
Utility function is: U(x1,x2)=2x1+x2
Name: Part (iv): Derive Hank's demand for nuts, x,(papa,M). Beet Conny. PM 2 x* - 2 O 2 Mbozudy. pi LP2 2 M P, P. P2 Part (v): Derive Hank's demand for berries, xa(pupa,m). MBS = 2 X"=-M P2 DIE $2. On the graph Part(W): Suppose that Hank has $42 to spend on nuts and berries, and below, construct Hank's Demand Curve for nuts.

Answers

Q. U- 2%, + XP of so mes= Oulaxi au/ X 27 2 . M then he will B. Pz So, now if mes > P Choose X, as he will get X, cheapes if

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