An individual's utility function is given by:

U = 1000x₁+ 450x₂ +5x₁x₂ - 2x₁²-x₂²

1. An individual's utility function is given by: U = 1000X1+ 450312 +5X1X2 - 2X12 -X22 where x1 is the amount of leisure measured in hours per week and X2 is earned income measured in pounds per week. Determine 5U/5x1 and BU/sz and give the economic interpretation of these partial derivatives. Calculate the partial derivatives when X1 = 138 and X2 = 500 and hence estimate the change in U if the individual works for an extra hour, which increases earned income by 15 per week. H' t: 1\" dU = dX1+dX2 cm can