Optimality condition for maximization of utility function

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1- What is the optimality condition for the maximization of the utility function U (x,y) = xy^3 and the prices (Px,Py) = (2,.0.5)?

2- Using the utility function and optimality condition from the previous question, If M = 40 what are the utility-maximizing demands, x*? and y*?

Reference no: EM13889277

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