Economics for Today 9th Edition by Irvin Tucker

تمرين 48

Assume that the data in the following table are an indifference curve for a consumer:
A) Graph this indifference curve and label "Quantity of Y " on the vertical axis and "Quantity of X " on the horizontal axis. Label the points A ? D.
B) Assume the consumer's budget is $12 and the prices of X and Y are $1.00 and $1.50, respectively. Draw the budget line in the above graph.
C) What combination of X and Y will the consumer purchase?
D) What is the value of the MRS and the slope ( P x / P y ) at consumer equilibrium?
E) Beginning with the graph drawn in Part (a), explain and draw graphs to derive a demand curve for X.