Question: Please show all of the work. NUMERICAL PROBLEMS: 1. A consumer has a utility function u(x1, X2) = 3 In(x1) + In(x2). a. What type

Please show all of the work.

NUMERICAL PROBLEMS: 1. A consumer has a utility function u(x1, X2) = 3 In(x1) + In(x2). a. What type of preferences are represented by this utility function? b. Write the Lagrangian function for this consumer's constrained optimization problem. c. Derive the first-order conditions for the constrained optimization problem. d. Use the above first-order conditions to derive this consumer's demand functions X, (P1, P2, m) and X2 (P1, Pz, m)

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