Mrs. Yamoah's has an income of GHS 200 to spend on two commodities Maize and Yam. Maize costs GHS 1.20 per unit and Yam costs GHS 1.10 per unit. i) write down Mrs. Yamoah's budget equation. ii) write down Mrs. Yamoah's budget line. iii) what is Yamoah's marginal rate of substitution of maize to yam? iv) if Mrs. Yamoah's spend all her income of either maize or yam, how much of each commodity could she buy? v) suppose that yam cost per unit falls to GHS 1.0 while everythingthing else says the same. Write down Mrs. Yamoah's new budget equation. What is the price ratio of Maize to Yam?

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