Question: please help COBB-DOUGLAS . a. Suppose we have preferences U(X, Y) = X1/3 Y2/3. Make a table and graph/sketch the indifference curve through the bundle

please help

COBB-DOUGLAS .

a. Suppose we have preferences U(X, Y) = X1/3 Y2/3. Make a table and graph/sketch the indifference curve through the bundle X = 10 and Y = 10

b. Show that the Marginal Rate of Substitution is MRSXY = - Y/2X. Interpret what this means and what it implies about convexity of the indifference curves.

c. Let prices be Px = 10, Py = 20 and income M = 1000. Draw/sketch the budget constraint. Interpret what the slope of the budget line means in economic terms.

d. Suppose the consumer wanted to maximize utility subject to their budget constraint. State the consumer's maximization problem and express this in words.

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