1.
Sketch the graph of the linear function with slope a = -1 and intercept b
= 2?
b.
Find the value of x, if log3 X=
-2.
2.A person has $150 to spend on two goods (X,Y) whose respective prices are $6 and $9.
a) Draw a budget line showing all the different combinations of the two goods that can be bought
with the given budget.
b) What happens to the original budget line if the budget is lowered to $120?
c) What happens to the original budget line if the price of X decreases for 1$?
Draw the new budget lines in each case.