Question: A consumer's utility function is U = In[xy4] {a} Find the 1.ralues of x and y which maximise utility subject to the budgetary constraint 20x

A consumer's utility function is U = In[xy4] {a} Find the 1.ralues of x and y which maximise utility subject to the budgetary constraint 20x + By = 30D. Use the method of Lagrange to solve this problem. {b} Shot--r that the ratio of marginal utility to price is the same for x and y. {a} x = D and y = D {Simplify your answers} {b} The values of the marginal utilities at the optimum are 3U {EU 3 = D m I = D (Give your answers to three decimal places as needed] The ratio of the marginal utilities and the ratio of the prices are both equal to ours; P1, aurax' Frx

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