Suppose the utility derived by a consumer from x units of one commodity and y units of a second commodity is given by the utility function U(x, y) 2x 3 y 2 The consumer currently owns x 5 units of the first commodity and y 4 units of the second Find the consumers current level of utility, and sketch the corresponding indifference curve

Question: Suppose the utility derived by a consumer from x units of one commodity and y units of a second commodity is given by the utility

Suppose the utility derived by a consumer from x units of one commodity and y units of a second commodity is given by the utility function U(x, y) = 2x³y². The consumer currently owns x = 5 units of the first commodity and y = 4 units of the second. Find the consumer’s current level of utility, and sketch the corresponding indifference curve.

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