Question: Please answer 2 and 3 1. Mukesh spends all his $100 weekly income on two goods, X and Y. His utility function is given by

Please answer 2 and 3

1. Mukesh spends all his $100 weekly income on two goods, X and Y. His utility function is given by U (X,Y)= XY. If Px = 4 and Py = 10, how much of each good should he buy? 2. Same as Problem I, except now Mukesh's utility function is given by U(X,Y)= x1/2 1/2 3. Note the relationship between your answers in Problems 1 and 2. What accounts for this relationship

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