Question: this question please Question 4 [25 marks] A consumer is maximising her utility function, U(x, y) = = + 21n(y), subject to the budget constraint

this question please

Question 4 [25 marks] A consumer is maximising her utility function, U(x, y) = = + 21n(y), subject to the budget constraint + + 2y - 10. (a) Set up the Lagrangian function of this utility maximisation problem and derive the first-order conditions. [9 marks (b) What are the utility maximizing amounts of z and y? Also, calculate the Lagrange multiplier. 8 marks (c) What are the utility maximising amounts of z and y if the budget constraint changes to s + 2y - 12? 8 marks

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