PART TWO. Answer the following four problems in the space provided. Please show your work in an organized way, with clearly labeled graphs if you use any. (10 points each) 11. A consumer's preferences for goods X and Y are given by U(X, Y) = X%Y% The price of X is $10, and the price of Y is $20. The consumer has an income of $5000. a. What is the utility maximizing choice of X and Y? b. How would the utility maximizing choice change if the price of Y increased to $50? c. Given the answers to the previous parts, plot a linear approximation to the demand function for Y