Ted's preference for two goods X and Y is expressed in the following indifference schedule: Quantity X Y 00 109 1817 25 23 10 1 12 6 7 30 27 33 30 35 32 36 32 1- Graph total utility of X and Y. What do the graph imply? 2- Find marginal utility of X and marginal utility of Y and graph them. What do the graphs imply? 3- Prices of X and Y are $1.00 and 50 cents, respectively. Ted has no more than $4.00 to spend on X and Y. How many units of X and Y will Ted buy? 4- Suppose price of Y rises to $1.00. How would Ted change the quantities purchased of X and Y? How many units of each will Ted buy? 5- Now, suppose that price of Y falls to 25 cents per unit. How many units of X and Y will Ted buy? 6- Based on the information provided in 3-5, graph Ted's demand for Y. 7- Find the arc-price elasticity of demand for Y for prices $1.00 and 50 cents.