Find the Hicksian demand function h(p1,
p2, m) for each of the following 4 utility functions.
U(x1, x2) = 5x1 +
10x2
U(x1, x2) = min { 1/2x1 ,
1/3 x2 }
U(x1, x2) =
x1 + 3x21/2
U(x1, x2) =
x12x22
Using your answers for part one find the preference maximizing
bundle for each kind of utility when:
P1 = $5, p2 = $5, m = $100
P1 = $5, p2 = $10, m =
$100
P1 = $10, p2 = $5, m =
$100
Make a generic sketch for each type of utility function that
shows the shape of the indifference curve that the utility function
generates.