Q  Mux  Muy            0  0  0            1  54  36            2  48  33            3  42  30            4  36  27            5  30  24            6  24  21              If px= 6 , and  py=3 , Income = 36 , What are the equilibrium quantities of ( x , Y ) ?   How much is (TUx) at Q = 2 ?  If the income decreased to 27. How much is the new equilibrium quantity of X ?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question

If you have the following table: 

 

Q 

Mux 

Muy 

 

 

 

 

 

 

 

 

 

 

54 

36 

 

 

 

 

 

48 

33 

 

 

 

 

 

42 

30 

 

 

 

 

 

36 

27 

 

 

 

 

 

30 

24 

 

 

 

 

 

24 

21 

 

 

 

 

 

 

  1. If px= 6 , and  py=3 , Income = 36 , What are the equilibrium quantities of ( x , Y ) ?  
  2. How much is (TUx) at Q = 2 ? 
  3. If the income decreased to 27. How much is the new equilibrium quantity of X ? 
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