1.. Suppose you have a budget of 1000 taka. The price of one unit of X is 20 taka, and the price of one unit of Y is 10 taka. If X provides you utility and Y gives you disutility, what is the equilibrium amount of X and Y for the consumer? Explain your answer using appropriate graph. 2.. Suppose the demand curve for a monopolistic competitor becomes steeper, but its average total costs do not change. Which of the following is likely to be an effect? a. The firm will no longer equate MR and MC. b. Excess capacity will increase. c. The firm will incur a loss. d. The firm will no longer be able to maximize profit