Question: 1. Suppose a consumer seeks to maximize the utility function U (x1, x2)=- (x1,x2) 1 - 1 201 202 subject to the budget constraint

1. Suppose a consumer seeks to maximize the utility function U (x1, x2)=- (x1,x2) 1 - 1 201 202 subject to the budget constraint P1x1+P2x2 = Y, where x1 and 2 represent the quantities of goods consumed, p and p2 are the prices of the two goods and Y represents the consumer's income. (b) (10) State the first-order necessary conditions for utility maximization.

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