Given f(x,y) =2x² - 3xy + 3y²,

and P_x= 6,P_y= 7 and income, I = 195.

Construct the budgetcontraint and Lagrange function and solve for the equilibriumvalues of x and y.

(a) What is theequilibrium value of x?

(Give your answer totwo decimal places, if required)

(b) What is the equilibrium value of y?

(Give your answer totwo decimal places, if required)

(c) What is the value of the determinant of the bordered Hessianmatrix?

(Give your answer totwo decimal places, if required)

Based on the value ofthe Bordered Hessian, comment whether the obejective function ismaximised or minimised.

Answer in oneword.