Question: Problem 3. ,2 2 ) ($1 - 2)+ (x2 - 2). Show that _ is locally nonsatiated. Problem 3. Suppose _ on X = R?

Problem 3.

,2 2 ) ($1 - 2)"+ (x2 - 2)". Show that _ is locally nonsatiated. Problem 3. Suppose _ on X = R? is monotonic. Then show that Walras' law is satisfied; that is, p1 1(p, m) + p2 12(p, m) = m. Problem 4. Suppose _ on X = R, is strictly monotonic, continuous, and represented by the following utility function

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