2) Luke utility function is U(x,y) = 15y2x^2 . He consumes 8 units of x and 16 units of y . Given this information a. What can you determine about

2) Luke utility function is U(x,y) = 15y2x^2

. He consumes 8 units of x and 16 units of y

. Given this information

a.

What can you determine about the price of x and the price of y? Explain and show all 

calculations

b.

What can you determine about Haron's

income? Explain and show all calculations.