Answer to Question #171779 in Microeconomics for ahmed

Question

A consumer has the utility Function U= X^2/3Y^3/5. The share of income that this consumer Spends on good X is (approximately) given by:

Answer 1

If a consumer has the utility function U= X^2/3Y^3/5, then we neen to know the share of income that this consumer spends on goods X and Y and prices of goods X and Y to find the utility-maximizing combination.