Question: WeBWorkSet14: Problem 5 Previous Problem Problem List Next Problem (2 points) A household needs both widgets and quatloos. The household utility function function is given

WeBWorkSet14: Problem 5 Previous Problem Problem List Next Problem (2 points) A household needs both widgets and quatloos. The household utility function function is given by U(w, q) - wq, where w is in pounds of widgets and q is in pounds of quatloos. Each pound of widgets costs $4 and each pound of quatloos costs $2. The household has a budget of $120 to spend on widgets and quatloos. What values of w and q will the household choose to maximize utility? (Note - Both w and q will be positive.) W = pounds q - pounds Note: You can earn partial credit on this problem. Preview My Answers Submit Answers

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