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4. a. b. Suppose the utility function of Mary is U = 24x1/4y3/4. Find the functions of MUx and MUy. Use them to find the

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4. a. b. Suppose the utility function of Mary is U = 24x1/4y3/4. Find the functions of MUx and MUy. Use them to find the MRS for X. Suppose Mary has a fixed budget $1,200 to be spend on the two goods. The unit price of X is $10 while the unit price of Y is $15. i. Find her optimal consumption bundle. ii. Graphically depict her optimal consumption bundle. iii. What is the value of MRS of X at her optimal consumption bundle

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