Question
Question 4 Suppose you are consuming apples (A) and oranges (O), and their MU and prices are given as follows: MU from the last unit
Question 4 Suppose you are consuming apples (A) and oranges (O), and their MU and prices are given as follows: MU from the last unit Unit Prices Apples 150 $2 Oranges 210 $3 To maximize your total satisfaction, how would you change the consumption of apples and oranges? Explain your answer. (30 points)
Question 5 To protect the domestic producers, governments usually impose a tariff on imported goods. Explain how consumers, local producers, and whole entire society gain or lose from the import tariff by showing graphs. (20 points)
please answer both questions
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