Question: 5 . ( 6 pts ) An individual purchases quantities a b , and a of three different commodities whose prices are p , q

 5 . ( 6 pts ) An individual purchases quantities a

5 . ( 6 pts ) An individual purchases quantities a b , and a of three different commodities whose prices are p , q , and I respectively . The consumer spends m dollars , where m > 20 and the utility function is given by ( a b c ) = a + In ( be ) Show that when utility is maximized the expenditure on each of the second and the third good is equal to p . Find a b and c when utility is maximized ( assume Lagrange multipliers gives the max solution

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