Question: 5. Utility Function: U(X, Y) = x /zyl/2. Budget Constraint: 4X + 2Y = 72 a. Calculate the utility maximizing amount of X and Y.

5. Utility Function: U(X, Y) = x /zyl/2. Budget Constraint: 4X + 2Y = 72 a. Calculate the utility maximizing amount of X and Y. b. Calculate the slope of the Engel curve for X

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5. It is the needs of the individual that are important.

6. It is what the person has previously done for the group that is the deciding factor.