Problem
Justin has the utility function U = xy, with the marginal utilities MUx = y and MUy = x. The price of x is 2, the price of y is py, and his income is 40. When he maximizes utility subject to his budget constraint, he purchases 5 units of y. What must be the price of y and the amount of x consumed?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.