Question: Suppose Milton has $50 to be divided between corn and beans and that the price of beans is $0.5 per pound. What will be the

Suppose Milton has $50 to be divided between corn and beans and that the price of beans is $0.5 per pound. What will be the relationship between the price of corn and the amount of corn he will buy if u(Qc, lb ) = log Qc + 4log lb, where u(Qc, lp ) is his utility, Qc is the quantity of corn he consumes (in pounds), and Qp is the quantity of beans he consumes (in pounds)? [10 marks]

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