Question: please let me know if its correct An individual values two goods, X and Y, according to the following utility function: 1 U(X, Y) =

please let me know if its correct

An individual values two goods, X and Y", according to the following utility function: 1 U(X, Y) = X3 Y4 The price of X is Pr=1.66, and the price of Y is Py=1.38. The individual has 29 dollars. What is the Lagrangean for this problem? Please substitute the given values for variables where applicable 2- x41/3*y^1/4 EM+A[ 29-1.66*x-1.38ty What are the first order conditions? Use L for A. ax (y^1/4)/(3*x^2/3)-1.66L (x^1/3)/(4*y^3/4)-1.38L ase ax 29-1.66x-1.38y O How much X and Y should this individual buy? (Round answers to the nearest whole number.) X= 10 Y = 9 Submit A DELL

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