Elena consumes only two goods: X and Y. Her utility function is characterized by: U = X0.5Y. She had $240 in income and prices of X and Y are both $4. Holding Diana's income I and PYconstant at $240 and $4 respectively, what would be her demand curve for X?

X = 80/Px

X = 120/ Px

X = 80/(2 + Px)

X = 120/(4+ Px)

X = 60/Px

X=60+(1/ Px)

X = 60/(4Px)

An individual is characterized initially by a flat then rising then falling price consumption curve when the price of X falls (from low to mid to high prices). Based on this information, which statement is (are) true? [Note you can choose more than one answer] (2) answers maybe

X and Y are independent at higher prices.

X and Y are both normal goods.

X and Y are complement at lower prices.

X and Y are substitute at mid prices.

X is normal but Y is inferior.