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I need help answering all these questions. Question 1 [18 points] Stefan loves to go on 200 trips. Going on a Zoo trip costs Stefan

I need help answering all these questions.

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Question 1 [18 points] Stefan loves to go on 200 trips. Going on a Zoo trip costs Stefan a total of $38 per trip. Stefan also loves to go to Classical concerts. Going to a concert costs Stefan a total of $29 per concert. Stefan must allocate his monthly entertainment budget carefully, and has evaluated how much satisfaction, measured in utils, he obtains from each 200 trip and each Classical concert visit. Stefan's total utility from each activity is independent of the amount of the other activity he engages in. Stefan has an entertainment budget of $297. Suppose that the price of a Classical concert increases to $32 from $29. The income budget remains at $297. \\sits past 7 will not give any extra utility. a) Compute Stefan's original equilibrium (before the price change). Original number of Zoo trips = I Original number of Classical concerts = I b) Fill out the table for the new MUIP for Classical concerts (after the price change). Keep as much precision as possible during your calculations. Your nal answer should be accurate to at least two decimal places. c) Compute Stefan's new equilibrium (after the price change). New number of Zoo trips = I New number of Classical concerts =

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