Question: Consider a consumer whose preferences between goods 1 and 2 are represented by the utility function u(x1, x2) = 3x1 + x2. a. What type

Consider a consumer whose preferences between goods 1 and 2 are represented by the utility function u(x1, x2) = 3x1 + x2.

a. What type of goods are goods 1 and 2 for this consumer?

b. Derive this consumer's demand function for good 1 and sketch it. Make sure to label all relevant points.

c. Fix p1 = $1 and p2 = $1. What is the equation of the Engel curve for good 1?

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