Bill's preferences over baskets of Good X and Good Y are linear, represented by the utility function U(X, Y) = 8(X + Y). His budget constraint appears in the graph below. Good Y 20 10 10 20 Good X 1. The price of Good X equals $30.00 per unit. We can determine from Bob's budget constraint that the price of good Y equals dollars per unit. a) 5.00 b) 10.00. * c) 20.00 d) 30.00 e) 45.00 2. The price of Good X equals $30.00 per unit. Bob's maximum utility equals a) 60 * bj 120 c) 180 d) 240 e) 300 3. The price of Good X falls from $30.00 to $15.00 per unit. The change in quantity demanded of X due to the substitution effect equals units. a) - 5 bj o c) 5 * d) + 10 e) + 15 4. The price of Good X falls from $30.00 to $15.00 per unit. The change in quantity demanded of X due to the income effect equals units. a) - 5 bj 0 c) 5 d) + 10 e) + 15