2.2 Household preferences Each low income family receives a weekly payment of $480 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=Xy3. 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 : y3 and MU), : 3xy2. Finally, the weekly rent on an acceptable family home is Ff; : $150 per week, and the price of the composite good is normalised to Py = 1. (You should interpret x