Suppose you want to spend $900, on Xbox (X), and PS4 (P); the price of Xbox is pX = $100, the price of PS4 is pP = $150, the utility function that represents the agent consumer's preference is: U = X0.5P0/5 How would the representative consumer spend his/her income (I = $900)?Write down the optimization procedures for the Micky-Mouse method with multiple variables.

o far, we only introduced one variable. The world gets much more complicated once we introduce mply one more variable into the model. the most classical economic problem in microeconomics uppose you want to spend $900, on Xbox (X), and PS4 (P); the price of Xbox is py = $100, the price PS4 is pp = $150, the utility function that represents the agent consumer's preference is: U = x0.5 p0/5 ow would the representative consumer spend his/her income (I = $900)? Y. Liang (SDSU) ECON 561