Question: Please help me. a) A planner in a small, open economy has a utility function U = x1352 and production takes place according to the

Please help me.

a) A planner in a small, open economy has a utility function U = x1352 and production takes place according to the production lnctions y1 = 101.1 0.51.: 3'2 = 101a L3 The world prices of the goods are p1 = 10 and p2 = 5. The total amount of labour available in the economy is 5 units. (i) Formulate the Lagrange equation. (ii) Write down the Karush-Khun-Tucker conditions. (iii) Determine a possible solution

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