Question: 1. Consider an individual whose preferences over two goods are represented by the utility function u(x, )=xy2 a. Find her marginal rate of substitution at

 1. Consider an individual whose preferences over two goods are represented

by the utility function u(x, )=xy2 a. Find her marginal rate of

1. Consider an individual whose preferences over two goods are represented by the utility function u(x, )=xy2 a. Find her marginal rate of substitution at a general point (x, y) with x > 0 and y >0. b. Find all bundles (x, y) at which her marginal rate of substitution is 0.5. c. Find her optimal consumption bundle for the budget with prices p = 5, q = 10, and wealth m = 150. d. Holding prices constant at p = 5 and q = 10, keep the income level as a parameter, m >0. What is her optimal consumption bundle as a function of income , (x(m), y(m))

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