Question: Please solve ! SHORT ANSWER. Make sure to answer all parts of the questions and show all of your work to get partial credit. Point

Please solve !

SHORT ANSWER. Make sure to answer all parts of the questions and show all of your work to get partial credit. Point values are specied in each part of each question. [50 points) Jake consumes good 1 [1(1) and good 2 [X2] but only in the xed ratio of 2 units of good 1 to 3 units of good 2. At any other ratio, the excess goods are totally useless to him. Jake's income is m. The price of good 1 is p1 and the price of good 2 is p2. Part 1) Write lake's budget constraint [3 points). Part 2] Write the most possible utility function [6 points]. Part 3) Consider the bundle [1:1, xz]=[6, 6]. Calculate the marginal rate of substitution. Show your work. [5 points] Part4) Find Jake's demand functions for good 1 and good 2. Show your work. [10 points)

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