00:01
So in this question we use the mark -utility equation.
00:06
So mark -utility function.
00:13
So what it is? u x1, x2.
00:22
So x1, 1 divided by 3, 2 divided by 3.
00:31
So next is that this one is a cube root.
00:36
So first we write the budget constraint.
00:45
So what it is? p1, price 1, x1, plus price 2, x2, multiplied by is equal to y.
00:57
The mark budget is a train is written as like this.
01:01
So this one is a price and this one is a quantity.
01:11
Quantity 1 and quantity 2.
01:14
So we say that the price of cookies, quantity of cookies.
01:30
Price of soda, quantity of soda.
01:38
And what is the y? y is a mark incomes.
01:47
So we write the one quality for optimum demand.
02:11
So what it is? maximize u x1, x2.
02:21
So subject to 1, x1, plus price 2, x2.
02:36
So is equal to y.
02:40
Let's write the mark demand functions.
02:43
So then we define lagrangian.
02:55
So what it is? l x1, x2, lambda.
03:04
So x1, 1 divided by 3.
03:08
X2, 1 divided by 3, lambda.
03:13
So y minus p1, x1 minus p2, x2...