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Supposed a consumer utility function is written as: U=(2q1,q2) where q1 andq2 are commodites 1 and 2 respectively.let their respective price be given as:p1=#2, p2=#8 and income be given as: B=#240. Use the above data to :
a. Find the maximum values of q1 and q2 that the consumer consumed.
b. Show that the budget constraint is satisfied in the sense that all income will be spent.
c. Show that the equal marginal principle is fulfilled.
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What are you looking for?

a. Find the maximum values of q1 and q2 that the consumer consumed.

b. Show that the budget constraint is satisfied in the sense that all income will be spent.

c. Show that the equal marginal principle is fulfilled.