Consider a single parent who has preferences for essentials (food, shelter, safety) (X) and other items (Y) represented by the utility function U(x,y) = x1/2y1/2. Currently, the parent works 40 hours a week and earns a monthly income of M = $2,000 and lives in a city where essentials are very expensive Px = $4. The unit price of other items is Py = $1