question_answer3) A consumer consumes only two goods X and Y. If marginal utilities of X and Y are 4 and 5 respectively, and if price of X is Rs. 5 per unit and that of Y is Rs. 4 per unit, is the consumer in equilibrium ? What will be further reaction of the consumer? Explain.
question_answer4) Price elasticity of supply of a good is 2. A producer supplies 100 units of a good at a price of Rs 20 per unit. At what price will he supply 80 units.
