2.) Utility Rawan enjoys watching movies and reading books. In an hour Rawan can either watch a movie or read one chapter in a book. The table below shows the total utility Rawan gets from each activity. Rawan has a budget of $18 and a movie costs $6 and a book chapter costs $2. a.) Calculate Rawan's marginal utility from watching movies at each number of hours per day and calculate Rawan's marginal utility from reading a book at each number of hours per day. (1 Point) b.) Calculate Rawan's marginal utility per dollar from watching movies at each number of hours per day and calculate Rawan's marginal utility per dollar from reading a book at each number of hours per day. (1 Point) + Quantity Total Marginal Marginal | Total utility | Marginal Marginal utility utility from | utility per | from book | utility from | utility per movies dollar chapters dollar book | 0 | |6 | | 8 | | 9 | c.) Inthe table below, fill in the combinations of movies and book chapters that exhausts Rawan''s budget and fill in marginal utilities per dollar. (1 Point) Consumption Marginal utility Marginal utility per possibilities Chapters per dollar movies | dollar book chapters . c ! | d.) How many movies and book chapters is Rawan going to consume to maximize her utility? (1 Point) 1.) Efficiency The table below shows the supply and demand balance for the housing market in Riyadh. Supply and Demand for Houses in Riyadh Quantity Quantity Price demanded supplied (SAR per m2) ('000 houses) 20 400 200 25 350 250 30 300 300 35 250 350 40 200 400 45 150 450 50 100 500 a.) Draw the supply and demand balance of the housing market in Riyadh. What is the equilibrium price and equilibrium quantity in the market? (1.5 Point b.) Inyour graph, shade in and label the consumer surplus and the producer surplus at the competitive equilibrium. (1 Point) Now assume the government introduces a law that says houses have to cost 40 SAR per m? c.) Given the price of 40 SAR per m?, is there a shortage or a surplus in the market and how big is the shortage or surplus if it exists? (1 Point) d.) Shade in and label the consumer surplus and the producer surplus in the market with the price floor of 40 SAR per mZ. (1 Point) e.) Compare the consumer surplus and producer surplus before and after the price floor and highlight if there is any loss. (0.5 Points)