Answer to Question #327715 in Microeconomics for Anad

Question

Q1. Marginal utilities of goods A and B are 600 and 900, and the price of good B is Rs.120. If the consumer is in equilibrium, the price of good A is

Q2. The utility function of a consumer is U = 12X1.5. If the price of the good is Rs.63 per unit, the consumer would consume.

Q3. The demand function for a good in Hyderabad is estimated to be Q = 34 – 2P. The theoretical maximum quantity of good demanded is

Answer 1

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