Solving the utility function also finding indifference curve and the budget line equations.
Tom have only $60, and he want to spend it all on clothing (X) and food (Y), Price of clothing is $4, and Price of food is $2. Tom's Utility function looks like the following.
U = U(X,Y) =XY +2X
PX= $4 , PY= $2, and I = $60.
Find the indifference curve and the budget line equations?