Question: (5 points) The consumer's utility maximization problem is max I {u(1 qI) + (1 )u(2 + I)} Characterize the solution of the utility maximization problem.

(5 points) The consumer's utility maximization problem is max I {u(1 qI) + (1 )u(2 + I)} Characterize the solution of the utility maximization problem. [You can ignore second order conditions and boundary conditions!]

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