Using the graph below, develop a two- to four-page response in APA format using the following four-question prompt: Ques

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Using the graph below, develop a two- to four-pageresponse in APA format using the following four-questionprompt:
Question 1
What is the maximum amount you would pay for an assetthat generates an income of $250,000 at the end of each of fiveyears if the opportunity cost of using funds is 8%?
Question 2
Suppose the supply function for product X is given byQxs = −30 + 2Px − 4Pz.
How much of product X is produced when Px = $600 and Pz= $60?
How much of product X is produced when Px = $80 and Pz =$60?
Suppose Pz = $60. Determine the supply function andinverse supply function for good X. Graph the inverse supplyfunction.
Question 3
Suppose the own price elasticity of demand for a good Xis −5, its income elasticity is −1, its advertising elasticity is4, and the cross-price elasticity of demand between it and good Yis 3.
Determine how much the consumption of this good willchange if:
The price of good X decreases by 6%.
The price of good Y increases by 7%.
Advertising decreases by 2%.
Income increases by 3%.
Question 4
A consumer is in equilibrium at point A in theaccompanying 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 consumerpurchase?
Suppose the budget line changes so that the consumerachieves a new equilibrium at point B. What change in the economicenvironment led to this new equilibrium? Is the consumer positivelyor negatively affected by the price change?