Consider my utility (U) functions for Q1and Q2:U1=30Q1-Q12and U2=20Q2-1.5Q22. The market prices for Qland Q2respectively are PM1= land PM2= 3. My budget is $100.(a) How much Qland Q2should I purchase to maximize my total utility (TU)?(b) Compute my TU at the optimum quantities.

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Consider my utility (U) functions for Qland
Q2:U1=30Q1-Q12and U2=20Q2–1.5Q22. The
market prices for Qland Q2respectively are PM1=
land PM2= 3. My budget is $100.(a) How much
Qland Q2should I purchase to maximize my total
utility (TU)?(b) Compute my TU at the optimum
quantities.
Transcribed Image Text:Consider my utility (U) functions for Qland Q2:U1=30Q1-Q12and U2=20Q2–1.5Q22. The market prices for Qland Q2respectively are PM1= land PM2= 3. My budget is $100.(a) How much Qland Q2should I purchase to maximize my total utility (TU)?(b) Compute my TU at the optimum quantities.
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