Suppose 2 consumers have the following utility functions: Consumer 1U=X^0.4 and Y^0.6. Consumer 2U=2X^0.5 Y^0.25where X and Y are two goods. If Px =2 and Py =3 and each consumer has an income constraint of 45,

i.Find the quantities of X and Y which will maximize utility, subject to the income constrain for each consumer.

ii.Show how a rise in income to 60 will affect the quantity of X and Y which will maximize utility for each consumer.