Question: Please make sure graph is clearly labeled and drawn out. Is line on graph upward sloping or curving down? 0.3Y 8. (40 points total) Suppose

Please make sure graph is clearly labeled and drawn out. Is line on graph upward sloping or curving down?

0.3Y 8. (40 points total) Suppose Maxine has the following utility function U = 0.9 * XSYS (MUx = and 0.6X 3 MUY Answer the following questions and, as always, show your work. Y 3 (a) (6 points) On a regular day, Maxine earns $270. She currently faces the following prices Px = $9 and Py = $1. What is her optimal consumption bundle of X and Y? (b) (2 points) How much does she spend per day on X and Y? (e) (6 points) Now suppose she leaves work carly one day and only carns $148.50. How much of X and Y will she consume then? (d) (2 points) How much does she spend that day on X and Y? (c) (6 points) What would happen to Maxinc's consumption of X and Y on a regular day if the price of X decreases to $3? (f) (2 points) How much would she spend on the X and Y that day? (g) (2 point) What share of her income does she spend on X and Y on a regular day? (h) (2 point) What share of her income does she spend on X and Y on the day she leaves early? (i) (12 points) Plot all three equilibria
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