2.2 Household preferences Each low income family receives a weekly payment of $600 from the government (this payment is their only source of income). Surveys of low income families suggest that their preferences are represented by the utility function, U =Xy2. where X represents the number of acceptable homes rented by the family, and y represents the quantity of the composite good consumed. The associate marginal utilities are, MUX = y2 and MUy = 2xy. Finally, the weekly rent on an acceptable family home is PX = $210 per week, and the price of the composite good is normalised to Py = 1. (You should interpret X