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O Q Q Ê Q Search 3. Rachels preferences for goods x and y are represented by the following utility function: U(x,y) = 3/4, 1

can someone guide me step by step on this solution are provided! PLEASE HELP!!! midterm next week.

confused about how to graph these and how they got to the answers

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Answer #1

Q) M(x,y) = x3/4 Y YA c.) U=2, 4 = 4, 8o gc qqn a= (x) 3/4 4/4 Y= [XT+ 14 = BY = -48(x)=4 , 24 = 192 (6)+5 7o. ax 20, ax 80_12 IC when U= 4 IC when U = 2 6 X 8

Graph of d)

(LX) -10 10 20 20 30 40 40 X powered by zo desm81 50 50 60 60 70

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