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Il. The Table below gives an individual's MUx and MUy schedule. Suppose X and Y are the only two commodities available and Px = P2

Il. The Table below gives an individual's MUx and MUy schedule. Suppose X and Y are the only two commodities available and Px = P2 while Py = P1. The individual's income is P12 and is all spent. Q Mux MUy 16 11 2 14 10 12 |co 10 6 4 1. Show how will the individual spend his income on these 2 commodities to maximize his utility. 2. State mathematically the equilibrium condition for the consumer

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