Question: QUESTION 7 Suppose you want to maximize the utility function U(x,y) = xy subject to the budget constraint 5x + 15y= 30. What is utility

QUESTION 7 Suppose you want to maximize the utility function U(x,y)

QUESTION 7 Suppose you want to maximize the utility function U(x,y) = xy subject to the budget constraint 5x + 15y= 30. What is utility at this constrained maximum? Hint: determine the values of X and Y that maximize U(x,y) subject to the constraint and plug them into U(x,y). * Submit your workings for possible partial credit

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