Discuss the below:
Q: Consider a representative consumer with A budg et of $ 4 00 in world with two consumer goods X and Y.
The price of X is P x = $4
The price of Y is P y = $6 .
The Consumer's marginal utility with respect to
i. X is 8 X and
ii. Y is 2Y
What are the quantities of commodity X and commodity Y that this consumer must purchase and consu me to maximize his/her utility?