Please kindly instruct me on solving the following in a general equilibrium framework with standard budget constraint, $$ u^{1}\left ( x \right )= max\left [ \frac{x_{1}}{10}, \frac{x_{2}}{10}\right ]+ min\left [ x_{1},x_{2} \right ] $$ , with $e^{1} = (10,10)$
- What would this consumer demand at prices $p = (\frac{3}{4}; \frac{1}{4})$?
Given the other two consumer utilities
$$u^{2}\left ( x \right )= x_{1}^{\frac{2}{5}}x_{2}^{\frac{3}{5}} $$
$$u^{3}\left ( x \right )= x_{1}^{\frac{3}{5}}x_{2}^{\frac{2}{5}}$$ , with $e^{2} = (4,6)$ , $e^{3} = (4,4)$
- Find one Walrasian equilibrium (and determine both equilibrium prices and the equilibrium allocation).
I have completely no idea how to start with it...
Thank you!