Question: Please choose the correct answer for question 5 (attached as .jpg file) Question 5 John has the utility function X) 2) (X 3). He also

Question 5 John has the utility function X) 2) (X 3). He

Please choose the correct answer for question 5 (attached as .jpg file)

also has income m and faces prices Py and Px What is

Question 5 John has the utility function X) 2) (X 3). He also has income m and faces prices Py and Px What is John's optimal choice of goods Y and X as functions of his income and prices? 2Pv3px m2P, 3px m3P, 3Pv2px 3Pv2px for goods Y and X respectively. 3Px 3P7 3P,/ 3Px 2px 2px x* x* 3Px o

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