5. Which is the consumer's demand curve for X in the following graph if the price of Y is $50. In youranswer, write down the rationale for your choice.Y300D1D22513015100U310D46001,0001,5004006001,0001,5006. The figure below shows a consumer maximizing utility at two different prices (the left panel) and theconsumer's demand for good X at the same two prices of good X (the right panel). The price of goodY is $4.50. When the price of X increases from point S to point R along the demand curve, thesubstitution effect of the price increase isand the income effect isRB60A48Demand for X18 24624Quantity of XQuantity demanded of XQuantity of YPrice of X

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ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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5. Which is the consumer's demand curve for X in the following graph if the price of Y is $50. In your answer, write down the rationale for your choice. 300 25 130 15 10아 U3 D3 10 U2 DA 1,000 1,500 1,500 400 600 600 1,000