Question: Please help me. Question 1: Assume that 1/3 1/3 F(X1, X2) = X1 X2 Wi= 1,w2 = 2, p = 3 Please solve the above

Please help me. Question 1: Assume that 1/3 1/3

Please help me.

Question 1: Assume that 1/3 1/3 F(X1, X2) = X1 X2 Wi= 1,w2 = 2, p = 3 Please solve the above profit maximization problem (unconstrained optimization) for the optimal quantities X,* and X * showing step-by-step solution. ANSWER: Question 2: Assume that F(X, Y) = -Xay The price is p, the cost per unit for X and Y are c, and ca respectively. Please solve the above profit maximization problem (unconstrained optimization) for the optimal quantities X* and Y* showing step-by-step solution. ANSWER: Question 3: Assume that U(X, Y)=xY8 Budget constraint is I = Px X+ P, Y Please solve the above utility maximization problem (constrained optimization) using Lagrangian Method for the optimal quantities X* and Y* showing step-by-step solution

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