Question: 35Q0.75 0.25 May's utility over mangoes (m) and toys (t) is described by U(Qm, Qt) = Q0 (a) May has $112 to spend. The

$Mays utility over mangoes ( (m) ) and toys ( (t) ) is described by ( Uleft(Q_{m}, Q_{t}right)=Q_{m}^{0.25} Q_{t}^{0.7$

35Q0.75 0.25 May's utility over mangoes (m) and toys (t) is described by U(Qm, Qt) = Q0 (a) May has $112 to spend. The price of mangoes is $2 per unit, and the price of toys is $6 per unit. Write the equation for May's budget constraint. (b) How much mangoes and toys will May buy? How much utility does she derive from the optimal bundle? (c) Show May's optimal consumption on a graph.

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