Question: Given the following consumption data determine whether x 1 i s revealed preferred t o x 2 , x 2 i s revealed preferred t

Given the following consumption data determine whether x1is
revealed preferred tox2,x2is revealed preferred tox1,or
neither is revealed preferred to the other.
p11=1,p21=2,x11=10,x21=5
p12=3,p22=1,x12=3,x22=11
Suppose that a consumer's utility function is given by
U=x112x212
a. Find optimal values ofx1 and x2 using the general form of the
budget constraint P1x1+?1P2x2=I.
b. Using your answer toa, find the consumer's response inx1toa
change in the price ofx1.
c. Use your answer in part bto find price elasticity of demand for
good x1.
Im pretty sure they both go together and im struggling to solve 4 part b and c
Given the following consumption data determine

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