Home » (25 marks) Natasha’s utility function is U = X2 Y, where U represents utility, X represents the quantity consumed of good X and Y represents the…

# (25 marks) Natasha’s utility function is U = X2 Y, where U represents utility, X represents the quantity consumed of good X and Y represents the…

1. (25 marks) Natasha’s utility function is U = X2 Y, where U represents utility, X represents the quantity consumed of good X and Y represents the quantity consumed of goods Y. Her income is \$100 and good Y cost \$5. Suppose the price of good X falls from \$5 to \$2. Draw good X in the horizontal axis and good Y in the vertical axis.a) Calculate the ordinary demands for goods X and Y. Illustrate your answers graphically. b) Calculate the resulting Income Effect, Substitution Effect and Total Effect. Illustrate your answers graphically. c) Calculate the corresponding Compensating and Equivalent Variation. Illustrate your answers graphically. d) Calculate the compensating demands for goods X and Y. Illustrate your answers graphically.

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Number of pages
Urgency
Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.