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A consumer has the utility function for goods X and Y: U(X,Y) = 5XY3 + 10. The consumer faces prices of goods X and Y given by px and py and has an income given by I. 1. Write out the Lagrangian expression for the consumer's utility maximization problem. 2. Write out the first-order necessary conditions of the Lagrangian for maximizing utility subject to the budget constraint.3. Show that the first order conditions imply the budget constraint and MRS=MRT condition.4. Solve for the Demand Equations, X*(px,py,I) and Y*(px,py,I)
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