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Units of X MUX Units of Y MUy 1 10 1 8 2 8 2 6 6 A 5 A 6 2 6 3 Instructions:

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Units of X MUX Units of Y MUy 1 10 1 8 2 8 2 6 6 A 5 A 6 2 6 3 Instructions: Enter your answers as whole numbers. a. If your income is $9 and the prices of X and Y are $2 and $1, respectively, what quantities of each will you purchase to maximize utility? X = units. Y = Junits. b. What total utility will you realize? c. Assume that, other things remaining unchanged, the price of X falls to $1. What quantities of X and Y will you now purchase? X = units. Y = ]units. d. Using the two prices and quantities for X, derive a demand schedule (a table showing prices and quantities demanded) for X. Instructions: Start with the highest price first

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