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Question: utility surface tu tuxt tut y4 65 135 13...

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Utility Surface: TU = TU,Xt TU_T Y-4 6.5 13.5 13 12 10 18.5 18 17 15 12 X 2 21.5 21.5 20.5 18.5 15.5 X 4 21 Y 2 Y 1 Y O 18 15 X 17. Arrive at the income clasticity of demand for the good and identify the type of good. 8. Find new consumer equilibrium when M 2S :y1.Identify the maximum utility (P)and the utility 3 X 3 x Identity the 9. Draw two graphs that appear one on top of the other. Let the top graph show the consumer equilibria for the original case (question 10. Arrive at the own-price elasticity of demand for the good and identify the type of good. maximizing commodity bundle (EP*). 4) and the new case (question 8). Let the bottom graph show the effect of own-price change on quantity demanded. Let the Cobb-Douglas Utility Function be given by:

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