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Chrome File Edit View History Bookmarks People Tab Window Help $ 58% Mon 4:07 PM QE .. TM Home | Howdy X Bb Homeworks - 20 FALL AGEC 2 X S HW4(1).pdf X *Homework Help - Q&A from Or x - C A tamu.blackboard.com/bocswebdav/pid-7539815-dt-content-rid-77503790_1/courses/AGEC.217.2031.M1/HW4%281%29.pdf JASO 217 AGEC 217 Dr. Menzies ork 2 2. A student has a monthly budget of $800. She can spend her budget on two items, X and Y. Each unit of X costs $20 and each unit of Y costs $10. If the student has a utility function of U =348X + 100Y + 6X2 +4Y' + 2XY, what is the optimal amount of X and Y for her to work 2 consume to have the maximum utility? What is this total utility? What is the value of pdf lambda and what does this mean?

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