Part I: 1. Demand: 00\") = 100 2P The price ufthis good changes from P = 30 to P = 20. 3. Calculate the Change in consumer surplus [1. Calculate the Price Effect. c. Calculate the Quanllty Effect. 2. Demand: 00') = 200 0. SP a_ Calculate the amount of consumer surplus when P = 240. b. Calculate the amount of consumer surplus when P = 300. c. Calculate the Price Effect of the change In price from P = 240 to P = 300. d. Calculate the Quantity Effect of the change in price from P = 240 to P = 300. Part II: 1. Utility Function: U(X, Y) = X'/zyl/2. Budget Constraint: 4X + 4Y = 60 a. Calculate the utility maximizing amount of X and Y. Now suppose that the price of X changes to Px = 6. b. Calculate the compensating variation. c. Calculate the equivalent variation. 2. Utility Function: U(X, Y) = x'/2yl/2. Budget Constraint: 2X + 4Y = 90 a. Calculate the utility maximizing amount of X and Y. Now suppose that the price of X changes to Px = 4. b. Calculate the compensating variation. c. Calculate the equivalent variation.3. Utility Function: \"(X. Y) = XIJZYVZ. Budget Constraint: 3X + 81' = 72 a. Calculate the ntllity maximizing amount of X and i'. New suppose that the price of X changes to JP,r = 4. b. Calculate the compensating variation. 1:. Calculate the equivalent variation. 4. Utility Function: U(X. Y) = XI/zvl/z. Budget Constraint: 2X + Y = 16 a. Calculate die utility maximizing amount of X and l'. Now suppose that the price of X changes to Px = 4. b. Calculate the compensating variation. c. Calculate the equivalent variation