Question: 11-12. A consumer has a utility function for a good X given by the following function: 2/5 U=55(X+5) -55 , X>0 Where X is the


11-12. A consumer has a utility function for a good X given by the following function: 2/5 U=55(X+5) -55 , X>0 Where X is the quantity of the good purchased each month (quantity need not be an integer) and U is measured in dollars. Questions 11 and 12 concern this consumer. 11. If the price of X is set at $2.75 per unit, the quantity of the good purchased by this consumer each month will be: A) 11 B) 17 C) 22 D) 27 E) 32 F) 35 G) 38 H) 42 I) 45 J) none of the above 12. If the price of X is set at $2.75 per unit, the consumer surplus gained by this consumer each month through purchasing X will be: A) $0 B) $55 C) $72.25 D) $84.75 E) $90.75 F) $97.50 G) $127.75 H) $132.25 1) $165 J) none ofthe above
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