Question 3 (15 marks total] Suppose a consumer has the following utility function: U = x1\"? if PK=1 and Py=2 and income = 300 1} Find the optimum quantities of X and '1' that the consumer will purchase. (3 marks) (In your solution you should begin by stating the two conditions that must be met.) 2} [n precisely what sense is this combination of X and '1." an equilibrium? (2 marks} 3} What is the maximum satisfaction that this utilitymaximizing consumer can achieve? [3 marks] Y 4} Illustrate the solution on the diagram. (2 marks}