Question

A consumer utility function is u = 1 log x1 + log x2. his budget constraint is given by 2x1 + 4x2 = 36. find out how many units of x1 and x2 should the consumer buy in order to maximize his utility.

Answer 1

The Government of India issued an ordinance ('Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969') and nationalised the 14 largest commercial banks with effect from the midnight of 19 July 1969. These banks contained 85 percent of bank deposits in the country.