# In the below figure, a consumer is initially in equilibrium at point C. The consumer’s income is \$400, and the budget line through point C is given by \$400 = \$100X + \$200Y. When the consumer is given a \$100 gift certificate that is good only at store X, she moves to a new equilibrium at point D.     a. Determine the prices of goods X and Y. Price of X: \$  Price of Y: \$  b. How many units of product Y could be purchased at point A? c. How many units of product X could be purchased at point E?

In the below figure, a consumer is initially in equilibrium at point C. The consumer’s income is \$400, and the budget line through point C is given by \$400 = \$100X + \$200Y. When the consumer is given a \$100 gift certificate that is good only at store X, she moves to a new equilibrium at point D.

a. Determine the prices of goods X and Y.

Price of X: \$

Price of Y: \$

b. How many units of product Y could be purchased at point A?

c. How many units of product X could be purchased at point E?

d. How many units of product X could be purchased at point B?

e. How many units of product X could be purchased at point F?

f. Based on this consumer’s preferences, rank bundles ABC, and D in order from most preferred to least preferred.

(Click to select)   D, B, C, A   D, C, A, B   C, A, B, D   A, B, C, D

g. Is product X a normal or an inferior good?

(Click to select)   Normal   Inferior

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