[Solved] A consumer is in equilibrium at point A in the accompanying figure. The price of good X is $5. What is the price of good Y? What is the consumer's
Question: A consumer is in equilibrium at point \(\mathrm{A}\) in the accompanying figure. The price of good \(X\) is $5.
- What is the price of good Y?
- What is the consumer's income?
- At point A, how many units of good \(X\) does the consumer purchase?
- Suppose the budget line changes so that the consumer achieves a new equilibrium at point \(\mathrm{B}\). What change in the economic environment led to this new equilibrium? Is the consumer better off or worse off as a result of the price change?
Deliverable: Word Document 
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(Steps Shown) Complete the following table and answer the accompanying
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