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I ONLY NEED THE ANSWER TO QUESTION C. THANK YOU Problem 1. Mark has .pdf

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I ONLY NEED THE ANSWER TO QUESTION C. THANK YOU Problem 1. Mark has the utility function u(x1,x2)=min(x1),2x2} a) On the graph below, draw in the indifference curve along which Harry's utility is 6 . Label it i.c.1. 612xx<2x b) Draw the budget line for Mark if the prices are p1=3 and p2=2, and income is m=24. Label it b.c. 1. How many units of goods 1 and 2 should he consume to maximize his utility subject to this budget? 60f21 c) His income increases from 24 to 36 . How many units of goods 1 and 2 should he consume to maximize his utility subject to this budget? Draw Harry's income offer curve (income consumption curve, ICC) as his income increases continuously from 24 to 36 . Label it ICC. 3x+2y=36.

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I ONLY NEED THE ANSWER TO QUESTION C. THANK YOU Problem 1. Mark has the utility function u(x1,x2)=min(x1),2x2} a) On the graph below, draw in the indifference curve along which Harry's utility is 6 . Label it i.c.1. 612xx<2x b) Draw the budget line for Mark if the prices are p1=3 and p2=2, and income is m=24. Label it b.c. 1. How many units of goods 1 and 2 should he consume to maximize his utility subject to this budget? 60f21 c) His income increases from 24 to 36 . How many units of goods 1 and 2 should he consume to maximize his utility subject to this budget? Draw Harry's income offer curve (income consumption curve, ICC) as his income increases continuously from 24 to 36 . Label it ICC. 3x+2y=36

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  • 1. I ONLY NEED THE ANSWER TO QUESTION C. THANK YOU Problem 1. Mark has the utility function u(x1,x2)=min(x1),2x2} a) On the graph below, draw in the indifference curve along which Harry's utility is 6 . Label it i.c.1. 612xx<2x b) Draw the budget line for Mark if the prices are p1=3 and p2=2, and income is m=24. Label it b.c. 1. How many units of goods 1 and 2 should he consume to maximize his utility subject to this budget? 60f21 c) His income increases from 24 to 36 . How many units of goods 1 and 2 should he consume to maximize his utility subject to this budget? Draw Harry's income offer curve (income consumption curve, ICC) as his income increases continuously from 24 to 36 . Label it ICC. 3x+2y=36