A consumer’s marginal benefit curve (MB) for a good is represented by MB = 181–2q. What is the MB of unit number 9 of the good consumed?

A consumer’s marginal benefit curve (MB) for a good is represented by MB = 190–3q. What is the highest price the individual is willing to pay for unit number 38 of the good?

Consider an economy with three consumers, each with a marginal benefit for a public good of MB = 10–q. What is society’s marginal benefit (MSB) for the public good?Group of answer choicesMSB = 10-3qMSB = 30-3qMSB = 10-(1/3)qMSB = 30-(1/3)qNone of the above

Consider an economy with three consumers, each with a marginal benefit for a public good of MB = 10–q. If the marginal cost of providing the good is $17 per unit, what is the efficient level of output? [Round your answer to 2 decimal places when needed]

A consumer has an income of $10,000 to spend on two goods, X and Y, where the price ofgood X is $500 per unit, and the price of good Y is $1 per unit. The marginal rate ofsubstitution is given by the formula Y/X. How many units of good Y does this consumeroptimally consume?

Johnathan’s utility function isU(x, y) = (3x + 2y)2 .The price of x is px = $10 per unit and his income is $200.(a) Obtain the equation of Johnathan’s indifference curve for the utility level U = 100. Drawthis indifference curve. (2 marks)(b) The price of y is py = $8 per unit. Obtain the marginal rate of substitution (MRS) and theequation of the budget line. Using a graph, find Johnathan’s optimal consumption bundle.In this graph, show the budget line, the optimal bundle, and the corresponding indifferencecurve. Make sure to label carefully all the curves. (3 marks)(c) Suppose that the price of y drops to py = $6 per unit (the price of x remains the same,at px = $10 per unit, and the income remains the same). Obtain the equation of the newbudget line. Using a new graph, find Johnathan’s optimal bundle with this new price. Inthis graph, show Johnathan’s new budget line, new optimal bundle, and the correspondingindifference curve. Make sure to label carefully all the curves. (3 marks)(d) Now suppose that the price of y is py = $8 per unit if Johnathan buys less than 10 units ofthis product, and py = $6 per unit if he buys 10 units of y or more (as an example, 20 unitsof y would cost $120). Assume that the price of x remains the same, at px = $10 per unit.Derive the equation of the budget line and draw it in a separate graph. (3 marks)