Question: QUESTION 12 2 N Suppose that a consumer's utility is given by u (x, y ) = 4x 2 + 4y ', in which case

QUESTION 12 2 N Suppose that a consumer's utility is given by u (x, y ) = 4x 2 + 4y ', in which case the marginal utilities will be given by MU = and MU = X respectively. Given arbitrary prices for good x, good y, and income (P , P , and /, respectively), solve for the consumer's demand for good x. That is, your final equation should have the optimal value of x on the left hand side, and some combination of P , P , and / on the right hand side. O I . P X= , OF, simplified, x= 25 ( P) P P + 25(P P P O X= P O I . P X= , or, simplified, x= P 2 PP+ P) P P O I . P X or, simplified, x= P 2 y PP + ( P,) 2 P + P

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