Question: A consumer is in equilibrium at point A in the accompanying figure. The price of good X is $5. a. What is the price of

A consumer is in equilibrium at point A in the

A consumer is in equilibrium at point A in the accompanying figure. The price of good X is $5. a. What is the price of good Y? b. What is the consumer's income? c. At point A, how many units of good X does the consumer purchase? d. Suppose the budget line changes so that the consumer achieves a new equilibrium at point B. What change in the economic environment led to this new equilibrium? Is the consumer better off or worse off as a result of the price change? Product YA 45 40 35 30+ B 25 20 15 10 5+ D Product X 20

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