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Needing help ASAP! Question 1 is provided above Question 7 Consider two goods. x and y. and suppose that the prices of these goods are

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Needing help ASAP! Question 1 is provided above "Question 7"

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Consider two goods. x and y. and suppose that the prices of these goods are given by PX = 10 and P; = 15. respectively. Suppose that a consumer's income is given by l = 120. Graph the consumer's budget constraint. and nd the correct equation for their budget line. QUESTION 7 Suppose the budget set and income level is given as in Question 1. Suppose that a consumer's utility is given by 2 2 3 _ _ T u(x.y) = [2X 3 + By 3) . What is utility obtained at the optimal consumption bundle, and what is the interpretation of the marginal rate of substitution at that point? 0 Roughly 7.3. and if the consumer gives up 3 units of good 3/. they would need an additional 2 units of good X to maintain this level of utility. O Roughly 7.3. and if the consumer gives up 2 units of good y. they would need an additional 3 units of good .t to maintain this level of utility. O Roughly 11. and ii the consumer gives up 3 units of good y. they would need an additional 2 units of good X to maintain this level of utility. Q Roughly 11. and ii the consumer gives up 2 units of good y. they would need an additional 3 units of good I to maintain this level of utility

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