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Given the following utility function and budget contraints: U(X,Y) = XY I = Px (X) +...

Given the following utility function and budget contraints:

U(X,Y) = XY
I = Px (X) + Py(Y)

and given that: Py = 10 , Px=12 and I = 360

Fill in the blanks in the following table (round to two decimal places):

Part 1:     What is the Value of Qx?

Part 2:     What is the Value of Qy?

Part 3:     What is the Optimal level of utility?

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