A consumer has income equal to $1,000, to spend on two goods, X and Y, where price ofgood X is $20 per unit, and price of good Y is $50 per unit. The X-intercept of the consumer'sbudget constraint has __ units and the Y-intercept of the consumer's budget constraint has__ units.

A consumer has an income of $10,000 to spend on two goods, X and Y, where the price ofgood X is $500 per unit, and the price of good Y is $1 per unit. The marginal rate ofsubstitution is given by the formula Y/X. How many units of good Y does this consumeroptimally c

For a consumer, the price of good 1 is $5 per unit for the first 5 units, then the price drops to $1 per unit for every unit purchased thereafter. The price of good 2 is $1 per unit. The consumer has an income of $50. If good 1 is represented on the x-axis and good 2 on the y-axis, the slope of the budget constraint at x1 = 3 is:

A consumer has a budget of $3000 in a given period, and wishes to buy two goods, X and Y, so as to maximise his utility. The price of good X is $5 and the price of good Y is $2, and his MRS is given by the formula 2Y/X. How many units of good X will he buy in that period?

Consider the budget set for a consumer with income of 100 facing the following prices. The price for the first five units of good 1 is $10 (per unit) If the consumer buys more than five units, the price is $5 for any subsequent unit purchased. If the consumer buys 2 units of good 2 at a price of $10 a unit and is on her budget constraint, how many units of good 1 does she buy?Group of answer choices7891011

Mary (consumer 1) and Lucy (consumer 2) are the only two consumers in the economy.Each of them consumes only two goods, fish (good x) and chips (good y), which they also own.Consumer 1’s utility function is given byU 1(x, y) = x2y3She has 25 units of x and 5 units of y. Consumer 2’s utility function is given byU 2(x, y) = ln x + ln y.She has 6 units of x and 20 units of y. Let p be the price of x and normalise the price of y to 1.(a) Draw the Edgeworth Box of this economy, marking clearly the endowment point. For eachconsumer, sketch the indifference curve passing through the endowment point.(b) Calculate the marginal rate of substitution for each consumer at the endowment point.(c) Who is going to sell x and buy y? Why?(d) Find the demand of consumer 1 for x—denote it as x1—and the demand of consumer 1for y—denote it as y1.(e) Find the demand of consumer 2 for x—denote it as x2—and the demand of consumer 2for y—denote it as y2.(f) Find the equilibrium price of good x.(g) Find the equilibrium consumption bundle of each consumer.(h) Mark your answer to part (g) in the Edgeworth Box you have drawn for part (a). Drawthe budget line under the equilibrium price. For each consumer, draw the indifferencecurve passing through the equilibrium consumption bundle.1