Question: Given U = min(3X, Y ), PY= $1 and I = $100, answer the following questions. Round to the nearest hundredth when needed. (a) Find

Given U = min(3X, Y ), PY= $1 and I = $100, answer the following questions. Round to the nearest hundredth when needed. (a) Find the equilibrium quantity of X and Y if PX= $1. (b) Find the equilibrium quantity of X and Y if PX= $2. (c) Find the equilibrium quantity of X and Y if PX= $3. (d) Suppose that PYto $3. Find the equilibrium quantity of X and Y if PX= $1. (e) Suppose that PYto $3. Find the equilibrium quantity of X and Y if PX= $2. (f) Suppose that PYto $3. Find the equilibrium quantity of X and Y if PX= $3. (g) What is total utility for the equilibrium quantities found in items (a) and (d)? (h) Plot the equilibria you found in (a) through (f). (i) Use the equilibria you found in (a) through (f) to plot the demand curve(s) for good X.

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