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Topic: Business
Number of pages / Number of words: 7 / 1775
Essay's paper body

The quantity for Y is 30 as read off the graph. The quantity for X is found by substituting the prices and quantities for each good and making them equal to the income. Then solving for X.

$500=30(Y)+Px*X

$500=30(10)+ 6.25X

$500-300=6.25*X

$200/6.25=X

X=32 units

H) The new MRS is equal to the Price of X over the Price of Y...


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625

6-10.

Unit of Good MuX MuX/Px Muy MuY/PY MuZ MuZ/PZ

1 12 12 60 20 70 14

2 11 11 55 18.33333 60 12

3 10 10 48 16 50 10

4 9 9 40 13.33333 40 8

5 8 8 32 10.66667 30 6

6 7 7 34 11.33333 25 5

7 6 6 21 7 18 3.6

8 5 5 18 6 10 2

9 4 4 15 5 3 0.6

10 3 3 12 4 1 0.2

Price 1 3 5

The following chart is the utility preference chart for a consumer with a budget of $65...


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