Note: Please hand write your answers on a sheet of paper and…
Note: Please hand write your answers on a sheet of paper and upload them to canvas. You may scan them or take a picture. Please make sure your writing is legible/readable and your images are clear. Alternatively, you may also type your answers however many of the questions require you to use illustrations to make your points. JPG OR PDF FILE FORMAT ONLY! 1. Using the table above, graph the units of X with MUx. (MU should be on the y-axis while the Units of X should be on the x-axis) 2. Using the table above, create a column to the right of MUx and fill it in with the TU of X. 3. Using the table above, graph the units of X with TUx. (TU should be on the y-axis while the Units of X should be on the x-axis) 4. Using the table above, graph the units of Y with MUy. (MU should be on the y-axis while the Units of Y should be on the x-axis) 5. Using the table above, create a column to the right of MUy and fill it in with the TU of Y. 6. Using the table above, graph the units of Y with TUy. (TU should be on the y-axis while the Units of Y should be on the x-axis) 7. Explain the relationship between TU, MU, and Q (units). What law describes this relationship? Using a good/services, provide an example of this relationship. 8. Suppose the table above represents John’s preferences. John has $20 to spend while X costs $1.50 while Y costs $1.00. How much of X and Y will be purchased. Hint: Solve this the same way you did on the Utility Handout. Note: Please hand write your answers on a sheet of paper and upload them to canvas. You may scan them or take a picture. Please make sure your writing is legible/readable and your images are clear. Alternatively, you may also type your answers however many of the questions require you to use illustrations to make your points. JPG OR PDF FILE FORMAT ONLY!