Text: A family has to decide how much of his monthly income to spend on Good 1 and Good 2. Suppose that this household has a fixed income of $600 per month. Further, suppose that the price of Good 1 is p1=$2 and the price of good 2 is p2=$1. Finally, suppose that the tastes of the households are described by utility function u(x1,x2) = xl'lmxgl", where x1 denotes the quantity of Good 1 and x2 the quantity of Good 2. Text: Consider utility function u(x1,x2) = x1+1nx2. This utility function is often used to represent the tastes of a consumer for whom Good 1 is non-essential, while Good 2 is. Furthermore, we know that this utility function satisfies the standard 5 assumptions about tastes, in particular, the strong version of convexity and monotonicity. Based on this information, answer the following questions