Question: Please answer 7. (10 points) A consumer has the following utility function of an individual consuming for good 1 and good 2: {1011. (3;) =

Please answer

7. (10 points) A consumer has the following utility function of an individual consuming for good 1 and good 2: {1011. (3;) = qlqg. The consumer faces prices of goods 1 and 2 given by p1 and p2 and has budget of Y. Solve for the demand equations, (11011. 322. Y) and q; (121. pg, Y)

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