*1.7 In 2005, a typical U.S. owner of a home theater (a television and a DVD player) bought 12 music CDs

(q1) per year and 6 Top-20 movie DVDs (q2) per year.

The average price of a CD was about p1 = $15, the average price of a DVD was roughly p2 = $20, and the typical consumer spent $300 on these entertainment goods.18 Based on these data, we estimate a typical consumer’s Cobb-Douglas utility function ?