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Suppose you are given the following equation for a budget constraint: Good Y = -4*Good X + 3,200 Show your work. a) If the
Suppose you are given the following equation for a budget constraint: Good Y = -4*Good X + 3,200 Show your work. a) If the price per unit of Good Y is $4, what must be the price of Good X? b) If this consumer purchases 5 units of Good Y, what quantity of Good X could he/she purchase? (round to the nearest whole unit) c) What is the maximum amount of Good X this consumer would be able to purchase? d) If the price per unit of Good Y is $4, what must be the amount of consumer income?
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