Question: (20 Points) Given the following utility function with goods x and y:U(x,y)= xy. (a) (4 Points) Find U. (b) (4 Points) What does U represent?

(20 Points) Given the following utility function with goods x and

(20 Points) Given the following utility function with goods x and y:U(x,y)= xy. (a) (4 Points) Find U. (b) (4 Points) What does U represent? Use your own words. I like pictures too! (c) (4 Points) Find dU=Udx. What do we call this equation? (d) (4 Points) Set dU=0 and find dxdy. (e) (4 Points) What does dxdy represent when dU=0 ? Use your own words. Pictures using geometry works! (20 Points) Given the following utility function with goods x and y:U(x,y)= xy. (a) (4 Points) Find U. (b) (4 Points) What does U represent? Use your own words. I like pictures too! (c) (4 Points) Find dU=Udx. What do we call this equation? (d) (4 Points) Set dU=0 and find dxdy. (e) (4 Points) What does dxdy represent when dU=0 ? Use your own words. Pictures using geometry works

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