please answer the both questions 3,29!!!! 3. A consumer is observed to display the following:MUyPyMUXPrMU: and MUy are the marginal utilities from goods X and Y, respectively. Px and Py are theprices of goods x and y. To increase utility, what should the consumer do?a) Decrease the price of good xc) Increase consumption of good yb) Increase the price of good yd) Decrease consumption of good y 29. Consider a firm minimising the cost of production, given factor prices. For this firm, thefollowing is observed:MPL MPKwhere w is the wage rate, r is the rental rate of capital, MPL is the marginal product of labourand MPx is the marginal product of capital. To minimise the cost of production, what shouldthis firm do?a) Pay higher wages.c) Use more labour and less capital.b) Pay lower rental rate of capital.d) Use less labour and more capital.

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3. A consumer is observed to display the following: MUy P, MU, P MU; and MU, are the marginal utilities from goods X and Y, respectively. Pz and Py are the prices of goods x and y. To increase utility, what should the consumer do? a) Decrease the price of good x c) Increase consumption of good y b) Increase the price of good y d) Decrease consumption of good y