Question: A consumer's utility function is given by U(x; y) = x2y. The prices for good y is 1 and the price for good x is

A consumer's utility function is given by U(x; y) = x2y. The prices for good y is 1 and the price for good x is px. The consumer's income is I. a) Determine the consumers' optimal consumption bundle (x; y) as a function of I and px. b) Is y a normal good? Explain c) Is x a normal good? Explain

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