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TEH QUESTION IS INCLUDED IN THE PICTURE Consider an individual with the following unusual utility function: u(q1, q2) = q1(92 - 3)2, where q is

TEH QUESTION IS INCLUDED IN THE PICTURE

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Consider an individual with the following unusual utility function: u(q1, q2) = q1(92 - 3)2, where q is the consumption of good 1 and 92 is the consumption of good 2. Suppose that price of good 1 is p1 = 1, price of good 2 is p2 = p, where p > 0 is an unknown constant, and income is Y. You are asked to find Marshallian demand of this individual for different prices and incomes. For that: (a) [2pt] Write a utility maximisation problem for this individual. (b) [2pt] Set up a Lagrangian for the maximisation problem in (a). (c) [9pt] Solve the utility maximisation problem for p = 1 and Y = 9. (d) [7pt] Solve the utility maximisation problem for p = 1 and Y = 3

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