Four out of eight problems I do not understand. These are the four problems:(adsbygoogle = window.adsbygoogle || []).push({});

1. Given Utility function----Max utility S.T. Budget curve

a. How demand changes if [tex]p_{1}p_{2}M[/tex] change whether the good is normal, regular, ordinary

b. find demand function [tex]x_1x_2[/tex]

2. Given product function----max the profit

a. find optimal amount of outputs/inputs

3. Minimize cost S.T. [tex]y=f(x_1x_2)[/tex]

a. find cost function [tex]C(y,w_1 w_2)[/tex]

4. Example of a general equilibrium in a pure exchange economy.

I don't even know where to start! I would very much appreciate it if someone would explain it to me. Unfortunately, my professor does not do a very good job of teaching.

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# Homework Help: I need help with economics!

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