ECN 445 SPRING 2016 PROBLEM SET 3 Answers due by the end of class on 3-31-2016 See Lecture 2-12 Welfare evaluation 0.8 1. A consumer has a

I need help with Problem 1 in this Homework Set. I have already done all the rest of the problems. I just want to make sure that I am doing 1a correctly. To find the amount of goods I did 1200=0.2(y/2.50) and found that y is 15,000. I also did the same for the other demand function. Am I correct on doing it that way? How would I do the expenditure of each good?