1. a) Mr. Hasan purchases two goods, X and Y, and the utility gained for the last unitpurchased of each is 16 utils and 23 utils, respectively. The per unit prices of X andY are $1 and $1.75, respectively. Is Mr. Hasan in consumer equilibrium? Explainyour answer.Units of GoodTU of Good XUnits of GoodTU of Good YX(utils)Y(utils)12011935232348340458445566549Use the above table to answer the following questions.i) If Mr. Hasan spends $5 (total) a week on good X and good Y, and if theprice of each good is $1 per unit, then how many units of each good does hepurchase to maximize utility?ii) Given the number of units of each good Mr. Hasan purchases in question(i), what is his total utility?

In economics, utility function is an important concept that measures preferences over a set of goods…

1. a) Mr. Hasan purchases two goods, X and Y, and the utility gained for the last unit purchased of each is 16 utils and 23 utils, respectively. The per unit prices of X and Y are $1 and $1.75, respectively. Is Mr. Hasan in consumer equilibrium? Explain your answer. Units of Good TU of Good X Units of Good TU of Good Y X (utils) Y (utils) 20 1 19 2 35 32 3 48 3 40 4 58 4 45 5 66 5 49 Use the above table to answer the following questions. i) If Mr. Hasan spends $5 (total) a week on good X and good Y, and if the