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0 Total Benefit of Good G $0 $38 The table below shows the total benefit in dollars, that Maria derives from consuming two goods, bandanas

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0 Total Benefit of Good G $0 $38 The table below shows the total benefit in dollars, that Maria derives from consuming two goods, bandanas and Good G Quantity of Bandanas Total Benefit of Bandanas Quantity of Good G $0 0 1 $10 1 $17 2 3 $21 3 4 $24 5 $26 S $26 6 2 $70 $96 $116 4 $130 $138 6 Maria has a limited weekly income of $9, and she spends it all on bandanas and Good G. Assume the price of each bandara is $1 and the price of Good G is $2 per unit. (a) Calculate Mario's consumer surplus from the fifth unit of Good G Show your work (b) identify the quantity of bandanas and the quantity of Good G that will maximize Maria's total benefit given her weekly income. Explain using marginal analytis (c) Maria's weekly income increases from $9 to $12, would Maria be able to buy 3 bandanas and 4 units of Good G? Explain using numbers (d) Suppose the price of Good G decreases by 5% and Maria buys 2 more of Good G and 4 more of Good R. Based on this change, identify whether Good and Good Rare substitutes, complements, or not related Explain using numbers. (e Suppose instead that bandanas are produced in a perfectly competitive market and the price of the fabric used to make bandanas decreases. It handanas are a normal good, will the quantity of bandanas that will maximize Maria's total benefit increase, decrease, or stay the same? Explain 0 Total Benefit of Good G $0 $38 The table below shows the total benefit in dollars, that Maria derives from consuming two goods, bandanas and Good G Quantity of Bandanas Total Benefit of Bandanas Quantity of Good G $0 0 1 $10 1 $17 2 3 $21 3 4 $24 5 $26 S $26 6 2 $70 $96 $116 4 $130 $138 6 Maria has a limited weekly income of $9, and she spends it all on bandanas and Good G. Assume the price of each bandara is $1 and the price of Good G is $2 per unit. (a) Calculate Mario's consumer surplus from the fifth unit of Good G Show your work (b) identify the quantity of bandanas and the quantity of Good G that will maximize Maria's total benefit given her weekly income. Explain using marginal analytis (c) Maria's weekly income increases from $9 to $12, would Maria be able to buy 3 bandanas and 4 units of Good G? Explain using numbers (d) Suppose the price of Good G decreases by 5% and Maria buys 2 more of Good G and 4 more of Good R. Based on this change, identify whether Good and Good Rare substitutes, complements, or not related Explain using numbers. (e Suppose instead that bandanas are produced in a perfectly competitive market and the price of the fabric used to make bandanas decreases. It handanas are a normal good, will the quantity of bandanas that will maximize Maria's total benefit increase, decrease, or stay the same? Explain

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