Suppose a consumer's utility function is given by u(x, y) = x*y. also the consumer has $288 to spend, and the price of x, px=16, and the price of y, py=1: a. how much x and y should the consumer purchase in order to maximize her utility? b. how much total utility does the consumer recieve? c. now suppose px decreases to 9. what is the new bundle of x and y that the consumer will demand? d. how much money would the consumer need in order to have the same utility level after the price chage as before the price change? e. of total change in the quantity demanded of x, how much is due to the substitution effect and how much is due to the income effect?

answer; test-retest;

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

answer(d) the growth of consumption is likely to remain sluggish even as the economy begins to recover.;

answer///schedule;