Question:

A consumer’s utility function is given by: $𝑒(π‘₯_1, π‘₯_2) = (2π‘₯_1 βˆ’ 1)0.25(π‘₯_2 βˆ’ 4)0.75$ If the consumer has a budget of 73 and the unit prices of $π‘₯_1$ and $π‘₯_2$ are given by 2 and 1, respectively, then the value of ($π‘₯_1 + π‘₯_2$) is ________ (rounded off to two decimal places).

Updated On: Oct 1, 2024
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Correct Answer: 64

Solution and Explanation

The correct answer is :64
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