Question

Hi there, I need help on Questions 11 and 12

Utility Surface: TU TUX + TU.Y 6.5 21.5 13.5 13 12 10 21 21.5 18 Y 2 Y_1 Y.0 15 18 12 15 15.5 X 1 1. Draw two indifference curves and identify the respective levels of utility. 2. Arrive at the marginal utility stracture of good X and good Y (use table below) Units of good MU-X: IS-12 6-5 MULY 1 3. Identify consumer equilibrium in general @ algebraically and ) in a diagram 4. Findong nal consumer equilbnum when Mo 25: p: 1) : Pr İldentify the marinum udty (Uo)and the utilty 5. 6. Draw two graphs that appeat one on top of the other. Let the top graph show the consumer equilibria for the original case (question 7. Arive at the income elasticity of demand for the good and identify the type of good. maximizing commodity bundle (E°) Find new consumer cqualabnum when Mt-35 : maximizing commodity bundle (EM). ps-1) : Pr-İldentify the mamumunry (UM)and the utility 4) and the new case (question 4). Let the bottom graph show the effect of income change on quantiry demanded. 8. Find new consumer equilibrium when Mo 2s pPy. Idenify the maximu uiy (UP )and the utility 9. Draw two graphs that appear one on top of the other. Let the top graph show the consumer equilibria for the original case (question 10. 3 x maximizing commodity bundle (EPx) 4) and the new case (question 8). Let the bottom graph show the effect of own prce change on quantity demanded. Armive at the own-price elasticity of demand for the good and identify the type of good Let the Cobb Douglas Utility Function be given by: 11. Arrive at the marginal rate of substitution. Show your work 12. Solve for the orginal money income (question 4 when Mo #1$ : Pr.. зі Identify the maximum utility (U0 and the Idenify the maximum utility (Uand the 25 : p utility maximizing commodity bundle (E°) 13. Solve for the original money income (question 5) when Mo Py 3 x utlity maximizing commodity bundle (E°)

Answer 1