Question: 2. (15 points) Consider the following lexicographic preference relation > L on X = R2 : x' >z x if and only if r, +

2. (15 points) Consider the following lexicographic preference relation > L on X = R2 : x' >z x if and only if r, + r2 > x1 + 12, or x, +r2 = x1 + 2 and r, 2 21. Let the family of budget sets B be the Walrasian budget sets B(p, w) = {reRy : px 0, p2 > 0 and income w > 0 Find the choice rule C"* generated by this lexicographic preference, that is, find the most preferred consumption plan (or demand) for every p and w

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