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Question 3: The following gures depict the Marginal Utility from consuming good X (panel a), Marginal Utility from consuming good Y (panel b), Total Utility derived from consuming good X (panel c), and Total Utility derived from consuming good Y (panel (1). Please refer to these gures when answering questions a to d X 18 Good 10 Good Y 16 14 8 12 s w ------ . s 6 E 8 : E 6 I 4 4 E 2 2 : 0 O 012345678910 012345678910 Units of Good X Units of Good Y (a) (C) 0 012345678910 0012345678910 Units of GoodX Units of Good Y (b) (d) a. If the price of X is $2 and the price of Y is $1 and the consumer is buying 4 units of X and 2 units of Y. What would be the consumer's total utility? Show all necessary calculations. b. Suppose the price of X is $2, the price of Y is $1, and the consumer's income is $10. The consumer is currently buying 4 units of good X and 2 units of good Y, In order to maximize his utility, should he keep on consuming this (4X, 2Y) bundle or increase/decrease the respective quantities of X and Y. Justify your answer c. Suppose the price of Y is $1, the consumer's income is $10, and the consumer is currently buying 3 units of good X and 4 units of good Y. If this consumer is maximizing her utility, then what would be the price of X. Show calculations (1. Suppose the price of X is $2, the price of Y is $1, the consumer's income is $10, and the consumer is buying 3 units of good X and 4 units of good Y. What is the total utility the consumer obtains from this combination of X and Y? Show calculations