Copy and complete the table below.QMUxMUyAUxAUyTUxTUyMUx/Px=5MUy/Py=4MUy/Py=816030 30 30 2 2455 5410 335 2214566 31.54 6 18160 3 5533315 75 60 12165 -0.75-0.375 Given that Q is the units of quantity of commodity X and Y consumed, MUX, AUX, TUX and PX are marginal utility, average utility, total utility and price of commodity X The utilities of commodity Y are similarly defined. Use the information in the above table to answer the questions that follows:Which of the commodities would he pay higher price when 4 units are consumed? Suppose the price of X is 5 and that of Y is 4. How many of the quantity of X and Y should be consumed in order for the consumer to be in equilibrium. If price of Y increase to 8 whiles that of X remains the same, determine the units of X and Y that the consumer need to consume for him to be in equilibrium. Use your results to draw a demand curve for commodity Y.

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Answered: Copy and complete the table below. Q…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Copy and complete the table below.

Q	MUx	MUy	AUx	AUy	TUx	TUy	MUx/Px=5	MUy/Py=4	MUy/Py=8
1	60	30		30		30
2		24	55			54	10
3	35			22	145	66		3	1.5
4		6		18	160		3
5	5	3	33	15		75
6	0			12	165			-0.75	-0.375

Given that Q is the units of quantity of commodity X and Y consumed, MU_X, AU_X, TU_X and P_X are marginal utility, average utility, total utility and price of commodity X The utilities of commodity Y are similarly defined. Use the information in the above table to answer the questions that follows:
Which of the commodities would he pay higher price when 4 units are consumed?
Suppose the price of X is 5 and that of Y is 4. How many of the quantity of X and Y should be consumed in order for the consumer to be in equilibrium.
If price of Y increase to 8 whiles that of X remains the same, determine the units of X and Y that the consumer need to consume for him to be in equilibrium.
Use your results to draw a demand curve for commodity Y.

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