Jeremy consumes only two goods, X and Y, and faces the following utility function: U = XY. The marginal utity tor X is MUx-Y and the marginal utility for Y is MUy =X. His initial budget is $800, and the prices of X and Y are $12.5 and $2. "Most answers should be round numbers. Answer everything to 1 decimal place, if need be* What are the amounts of X and Y that wil maximize Joromy's utility? X- Number Y Number How many X and Y will Jeremy choose if the price of X suddenly fell to S8? X= Number Y Number How many X and Y are in the substitution bundie? X-Number Y. Number What are the break-downs of the prioe change on the amount of X purchased? Subalitution etfect Number Income effect Number

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