A consumer has demand for two different goods, x and y, which he
chooses to maximize the utility function:
U(x,y)=√x+√y (x≥0, y≥0) subject to the budget constraint:
px+qy=m (m,p,q>0)
where p is the price of good x, q is the price of good y, and m
is total income a) Show that the utility function is concave
b) Write out the Lagrangian for the constrained maximization
problem, assuming consumer spends his full income
c) Find the utility maximizing demands for...