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Suppose a consumer's preferences can be represented by the utility function U(X,Y) = X*Y. Also, suppose the consumer has $200 to spend and the price
Suppose a consumer's preferences can be represented by the utility function U(X,Y) = X*Y. Also, suppose the consumer has $200 to spend and the price of Good X is PX = $2 and the price of Good Y is PY = $4. If the consumer maximizes their utility subject to their budget constraint, how much of Good X and how much of Good Y will the consumer purchase?
X* =
Y* =
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