x and y. (10 pts) Attach File Browse Local Files Browse Content Collection QUESTION 2 2. Moody consumes goods x and y. a. On some days Moody's preference is represented by utility function U(x, y) = min {3x, y}. What shape is an indifference curve? Find Moody's demand for good x and good y as functions of income m and prices Px and Py on these days. (10pts) On other days, Moody's utility function changes to U(x, y) = 3x + y. Suppose on one of these days good x is sold at price Px = $2, good y is sold at price Py = $1, and Moody's budget is $40. b. Calculate Moody's optimal consumption bundle at these price and income levels. (5pts) C. Given the price of good y at Py - $1, for what prices of x will Moody change the above optimal choice? (5pts) Attach File Browse Local Files Browse Content Collection ALLFATIAN Click Save and Submit to save and submit. Click Save All Answers to save all answers