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Solution: To determine the utility-maximizing levels of \(X_{1}\) and \(X_{2}\), we will follow these steps: 1. Utility Function: \[ U = X_{1}^{0.4}X_{2}^{0.6} \] 2. Budget Constraint: The consumer's budget constraint is given by: \[ P_{1}X_{1} + P_{2}X_{2} = M \] Substituting the given values: \[ 3X_{1} + 4X_{2} = 108 \] 3. Marginal Utilities: ______ __________ ______ _______ ______ ___ _____ ______ ____ _________ ______ ________.
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Solution: To determine the utility-maximizing levels of \(X_{1}\) and \(X_{2}\), we will follow these steps: 1. Utility Function: \[ U = X_{1}^{0.4}X_{2}^{0.6} \] 2. Budget Constraint: The consumer's budget constraint is given by: \[ P_{1}X_{1} + P_{2}X_{2} = M \] Substituting the given values: \[ 3X_{1} + 4X_{2} = 108 \] 3. Marginal Utilities: ______ __________ ______ _______ ______ ___ _____ ______ ____ _________ ______ ________.
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