Mary has a utility function U(x1, x2) = min (x1, 5*(x2))
Suppose Mary has an income of$110, the price of x1 equals $10 and the price of x2 equals $5
(b). Calculate Mary’s optimum demand on x1 and x2; and calculate the maximized utility when Mary purchases the optimum bundle. (Hint:we cannot use the same method of CobbDouglas utility function to solve perfect complements utility function.