Question 2
Suppose that every morning you have two cups of coffee ($x_1$) and three pieces of bacon ($x_2$). That being the case,
your preferences can be represented by the following utility function:
$U = u(x_1, x_2) = min(3x_1, 2x_2)$
Further, let's suppose that you have a weekly budget ($I$) of $25, the price of one cup of coffee ($p_1$) is $1, and the
price of one piece of bacon ($p_2$) is $0.50.
(a) What is your budget constraint?
$25 = x_1 + 0.5x_2$
$25 = 0.5x_1 + x_2$
$25 = 0.5x_1 + x_2$
$25 = x_1 + 0.5x_2$
