Given the following information: PX =$8, PY = $6; Consumer's Budget (B) = $76
Units of X
TUX
MUX
Units of Y
TUY
MUY
1
48
54
2
40
102
3
32
144
4
24
174
5
16
192
6
8
204
7
0
210
What combination of X and Y should the consumer buy?
What is the combined total utility from that combination of X and Y (TUX+Y)
How much the consumer spent on X and Y
Given the following information: PX =$8, PY = $6; Consumer's Budget (B) = $76
|
Units of X |
TUX |
MUX |
Units of Y |
TUY |
MUY |
|
1 |
48 |
54 |
|||
|
2 |
40 |
102 |
|||
|
3 |
32 |
144 |
|||
|
4 |
24 |
174 |
|||
|
5 |
16 |
192 |
|||
|
6 |
8 |
204 |
|||
|
7 |
0 |
210 |
What combination of X and Y should the consumer buy?
What is the combined total utility from that combination of X and Y (TUX+Y)
How much the consumer spent on X and Y
Related textbook solutions
Related questions
Answer the question based on the table below showing the marginal utility schedules for product X and
product Y for a hypothetical consumer. The price of product X is $4 and the price of product Y is $2. The
income of the consumer is $20.
|
Product X |
Product Y |
||
|
Quantity |
MUx |
Quantity |
MUy |
|
-- |
-- |
||
|
1 |
32 |
1 |
24 |
|
2 |
28 |
2 |
20 |
|
3 |
24 |
3 |
16 |
|
4 |
20 |
4 |
12 |
|
5 |
16 |
5 |
8 |
Refer to the above table. If the consumer buys product X or product Y one unit at a time, which of the following
will the consumer's first two purchases be?
a.) A first unit of X followed by a first unit of Y
b.) A first unit of X followed by a second unit of X
c.) A first unit of Y followed by a first unit of X
d.) A first unit of Y followed by a second unit of Y
I think the right answer is B.) ???
