Given a budget constraint (or income) of $40, use the below table to find when a consumer would be in "consumer equilibrium". Like the example on Canvas (& the textbook), we assume there are only two goods, X and Y. The price of X is $6 per unit and the price of Y is $4 per unit. Explain your answer; that is, why have you concluded that--given your answer--the consumer is in equilibrium? (Be sure to show how you got your answer) Units MUX MUy. 1 56 40 32 28 3 4 18 12 12 8 6 20 24

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Given a budget constraint (or income) of $40, use the below table to find when a consumer would be
in "consumer equilibrium". Like the example on Canvas (& the textbook), we assume there are only
two goods, X and Y. The price of X is $6 per unit and the price of Y is $4 per unit. Explain your
answer; that is, why have you concluded that--given your answer--the consumer is in equilibrium?
(Be sure to show how you got your answer)
Units
MUX
MUy
1
56
40
2
32
28
3
24
18
12
5
12
8.
8
20
Transcribed Image Text:Given a budget constraint (or income) of $40, use the below table to find when a consumer would be in "consumer equilibrium". Like the example on Canvas (& the textbook), we assume there are only two goods, X and Y. The price of X is $6 per unit and the price of Y is $4 per unit. Explain your answer; that is, why have you concluded that--given your answer--the consumer is in equilibrium? (Be sure to show how you got your answer) Units MUX MUy 1 56 40 2 32 28 3 24 18 12 5 12 8. 8 20
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