Question: Matt and Carlos consume only two goods. The utility function of Matt is given by UM ($1, X2) = max {271,42} . The utility function

Matt and Carlos consume only two goods. The utility function of Matt is given by UM ($1, X2) = max {271,42} . The utility function of Carlos is given by Uc(1, 12) = min {2x1, 4x2} . The prices of goods 1 and 2 are p1 = 2 and p2 = 3, respectively. Each of them has an income m = 210. (a) Set up the consumer maximization problems of Matt and Carlos (b) What is the optimal consumption bundle for Matt? (c) What is the optimal consumption bundle for Carlos

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