Question: Individual number- 1 Minimum number - 1 Max number- 9 Median - 3 1-digit- 8 2-digit - 26 1.An agent has a utility function over

Individual number- 1

Minimum number - 1

Max number- 9

Median - 3

1-digit- 8

2-digit - 26

1.An agent has a utility function over goods 1 and 2 of the form , where c is your

individual number and d is your minimum number. The agent's income is equal to your 2-digit number. The price of good 1 is your maximum number and the price of good 2 is your median number.

Derive the agent's demand functions for good 1 and good 2. Calculate the quantities of good 1 and good 2 in the agent's optimum bundle.Individual number- 1

Minimum number - 1

Max number- 9

Median - 3

1-digit- 8

2-digit - 26

1.An agent has a utility function over goods 1 and 2 of the form , where c is your

individual number and d is your minimum number. The agent's income is equal to your 2-digit number. The price of good 1 is your maximum number and the price of good 2 is your median number.

Derive the agent's demand functions for good 1 and good 2. Calculate the quantities of good 1 and good 2 in the agent's optimum bundle.

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