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If x 1 and x 2 are the number of items of two goods bought,...

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Basic Math

If x 1 and x 2 are the number of items of two goods bought, acustomer’s utility is U ( x 1 , x 2 ) = 2 x 1 x 2 + 3 x 1 . Theunit cost is $ 1 for the first good and $ 3 for the second. UseLagrange multipliers to find the maximum value of U if theconsumer’s disposable income is $ 100 . Estimate the change inoptimal utility if the consumer's disposable income increases by $8 .

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