Hi! I was wondering if you could help me with this problem, I am having a hard time solving it. I was also wondering if it would be possible to show all of your work. I would really appreciate it. I need help with questions 10-14 and I've added the other questions just in case they are needed.

Suppose that an individual gains utility from two goods: X and V. For the purposes ofthis question, keep Good X on the xvaxis and Good Y on the yeaxis (for drawing figures). This individual also has a Utility Function given by: UGLY) 2 XY 1. Plot an Indifference Curve for a Utility Level ofU = 16. Label (at least} three points on this Indifference Curve. [2 points] Note that this utility function has the following Marginal Utilities {the following is not a typo): MUX = Y ; MUY = X 2. Suppose that an individual decides to purchase 8 units of Good X and 24 units of Good Y. What utility do they gain from this bundle of goods? What is their Marginal Rate of Substitution (MRS) at this bundle? [2 points] Suppose also that the price of Good X (px) is $15 per unit and the price of Good Y {pv} is $45 per unit. 3. What ratio must this individual consume X to Y if they are utility maximizing? [2 points] Finally, suppose that this individual has a total income (m) of $450 to spend on X and Y. 4. What must their utility-maximizing choice of X and Y be, given their income? What utility do they gain from this bundle [2 points] 5. Draw a figure with the following: [2 points] a. The Budget Constraint, including the x-intercept and yintercept. b. The utility-maximizing bundle. c. The Indifference curve that the utility maximizing bundle is on. Include at least one other bundle of X and Y that is on this same Indifference Curve. Consider a firm with the following Cost Function: C(Q) = 10.000 + Q3 This also implies a Marginal Cost Function of: MCfQ)=3Q2 Suppose finally that this firm is a price taker, and that the market price for the good it sells is $4,800 per unit. 6. Given the above, what is this firm's Profit-Maximizing quantity of Q? [1 point] 7. At this firm's profit-maximizing Quantity, what is the firm's Average Variable Costs (AVC) and Average Fixed Costs (AFC)? [2 points] 3. What is this firm's Accounting Profits at this profit maximizing Q? [2 points] 9. Ifthis firm decided to shut down (Q = 0), then what would its Accounting Profits be? Therefore, what is this firm's Economic Profits at its profit maximizing Q? [2 points] Consider a firm that employs two inputs, Labour (L) and capital (K), to produce and sell a final good (Q). They produce Q according to the final production function: Q = F(K,L) = KO'SLO'S This implies the following: 1(05 L05 ' MPK = 0.5 MPL = 0.5 LES , K05 The market price for the final product [1 is $1,000 per unit. The price of capital (pg) is $5 per unit. The price of Labour (pi) is $20 per unit. This firm has no fixed costs. 10. lfthis firm is cost minimizing, how much Labour must it choose to employ for every single unit of Capital it employs? [3 points] Suppose that this firm decides to produce 64 units of Q. 11. How many units of Land K must this firm employ if it is cost-minimizing? [2 points] 12. How much does it cost for a cost minimizing firm to produce Q = 64? How much profits does this firm make? [2 points] 13. Draw a Figure with Capital on the y-axis and Labour on the x-axis. include the lsocost Line that you answer to C111 is on. Include the x-intercept and y-intercept for this lsocost Line. Also include the lsoquant that your answer to 0.11 is on. Include an additional point on this lsoquant that is NOT the bundle you found in C11]. [3 points] Suppose now that the price of Labour increases to $30 per unit. 14. Draw another Figure with Capital on the yaxis and Labour on the x-axis. Include the bundle you found in C111. Also include the new lsocost line (with m = $30) that this bundle is on, and label the x-intercept and y-intercept for this lsocost line. Also include the old lsocost Line (before the pL change) from 013. [3 points] [Hint: for the new cost-minimizing bundle, you do not need to solve for it. What is important is where it is on the Q = 64 lsoquant]