Question: Problem 3 Text: Suppose the utility function of the consumer is u(x , x, ) = x + x, . Further, suppose p1=$4, p2=$2 and

Problem 3 Text: Suppose the utility function of the consumer is u(x , x, ) = x + x, . Further, suppose p1=$4, p2=$2 and /=$20. Based on this information, answer the following questions (questions 16-25). Questions: 16. What is the optimal quantity of Good 1 chosen by the consumer? 17. What is the optimal quantity of Good 2 chosen by the consumer? 18. What is the optimal quantity of Good 1 chosen by the consumer if p1 decreases to $1? 19. What is the optimal quantity of Good 2 chosen by the consumer if p1 decreases to $1

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