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    Aggesut Posts: 3, Reputation: 1
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    #1

    Oct 25, 2009, 11:32 AM
    Chosen Consumption Bundle
    Evening,

    I'm sitting here with some voluntary microeconomics home excersises, and I got a question about Utility functions

    I have the following Utility Function:
    u(x1, x2) = min(x1, x2)
    prices are p1=2 and p2=2, while the income is m=20

    I've calculated m/(p1+p2) => 20/(2+2) = 5

    , but is this the final answer for the chosen consumption bundle?

    Thanks
    Aggesut's Avatar
    Aggesut Posts: 3, Reputation: 1
    New Member
    		  
    #2

    Oct 25, 2009, 11:48 AM

    I apologize, I realised there was a Homework Help board. So I'll just scoot over there and see what happens.
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