The utility function of a consumer is given by U = f (q1, q2) = q1 ⋅ q2, suppose the price of q1 is Pq1 = 1 and price of q2 is Pq2 = 2. The consumer wants to spend amount of k units only what will be his demand for q1 and q2?
1
(q1, q2) = \(\left(k,\frac{k}{2}\right)\)
2
(q1, q2) = \(\left(\frac{k}{4},\frac{k}{6}\right)\)
3
(q1, q2) = \(\left(\frac{k}{2},\frac{k}{4}\right)\)
4
(q1, q2) = \(\left(\frac{k}{2},\frac{k}{3}\right)\)