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IV. Assume that Daniel allocates his budget of $24 per week among three goods. Use the following table of marginal utilities for good A, good
IV. Assume that Daniel allocates his budget of $24 per week among three goods. Use the following table of marginal utilities for good A, good B, and good C to answer the questions below: Q(A) MU(A) Q(B) MU(B) Q(C) MU(C) 50 75 25 40 60 20 30 40 15 20 30 10 15 20 7.5 A. If the price of A is $2, the price of B is $3, and the price of C is $1, how much of each will Daniel purchase in equilibrium? Show your work. B. If the price of A rises to $4 while other prices and Daniel's budget remain unchanged, how much of each will Daniel purchase in equilibrium? Show your work. C. Using the information from parts (a) and (b), draw a demand curve for good A. Be sure to indicate the price and quantity demanded for each point on the curve
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