WIN 1 2. Givena U(x,y)=x3y ,P1 :1, PF :2, and l=96: a) Find the optimal (x,y) and the utility from that bundle. (1 point) b) Find what happens when you change PI 2 8 but keep P} = 2 two different ways: i) Keep the income = 96 ii) Keep the utility at the same level you found in (a) Do these two methods give you the same answer? Does this make sense? Explain. (2 points) c) How much does the answer to (b) part (ii) cost at the prices in part (b)? Is it more or less than 96? Does that make sense? (1 point) d) Use the numbers from (a) and (b) to draw a picture in the xy axis specifically showing the income and substitution effects. (2 points)