1.John has an income of $36 to spend on X₁and X_2.Assume thatP_x1is $6 and P_x2is $4. If he spent all his income on X₁how many units of X₁could be afford?

2.Based on the information in Q1, John's budget constraint can be specified as:

a.36 = 6X₁+ 4X₂

b.X₂/ X₁= 6 / 4

c.9 = 1.5X₁+ X₂

d.36 = 4X₁+ 6X₂

3.Based on the information in Q1, if John's optimal consumption bundle contains 4 units of X₁, how many units of X₂will it contain?

4.To say that a consumer's preference ordering is transitive means that, for any 3 bundles A, B, and C, if he prefers A to B and prefers B to C, then he always prefers A to C.

aTrue

b.False

5.For Yin, tea (x₁) and coffee (x₂) are perfect substitutes; one cup of tea is equivalent to one cup of coffee.Calculate Yin's marginal rate of substitution (MRS) for these two goods. Hint, MRS should be positive.

6.A consumer has the following utility function: U(x ,y) = x y

If their income is $40 and P _x= $4 and P _y= $2, calculate the optimal quantity of good x ?

7.Based on the information in Q6, calculate the optimal quantity of good y.

8.Based on the information in Q6, calculate this consumer's utility if they were to consume their optimal consumption bundle

9.Demand Schedule

Price is 200 and 150

Quantity is 400 and 100

9.Based on the above table, what is the slope of the corresponding demand curve?

10.Based on the table in Q9, what is the price axis intercept of the corresponding demand curve?

11.Consider the following information about a market:

D: P = 10 - Q

S: P = 2 + 3Q

Calculate equilibrium quantity.

12.Based on the market information in Q11, calculate equilibrium price.

13.Consider the following market information please

D: P=120-Q²

S: P=22+Q²

Solve for equilibrium quantity?

14.Based on the information in Q13, calculate equilibrium price

15.Consider the following market information:

D: P=18-3Q

S: P=6Q

Equilibrium Price =$12 and Quantity=2

Calculate consumer surplus ?

16.Based on the information in Q15, calculate producer surplus

17.Based on the information in Q15, assume that the government now applies a $9 per unit tax to this good. What is the new equilibrium quantity?

18.Based on the information in Q15, assume that the government now applies a $9 per unit tax to this good. What is the new equilibrium price ?

19.Based on the information from Q15 onwards, what proportion of the tax is the consumer paying, as a decimal ?

20.Based on the information from Q15 onwards,calculate the size of the dead weight loss caused by this intervention, to one decimal place?

note; this is time based can you please give within 45 mins