Answer the following questions using the following information Columns 1 and 2 in the table below show the marginal utiity that Cody gets by purchasing products A and B. Column 3 shows the marginal utity Cody gets from saving Assume that the price of Ais $13 the price of B is $10, and Cody has an income of $129. a) Find the following senes of MU/S for each column. Note: Keep as much precision as possible during your calculations Your final answer should be accurate to at least two decimal places Column 1 Column 2 Column 3 Units of A MU MU/S Units of B MU MU/S Number of S saved MU MU/S 6.8 13 10 0 70 80 6.15 1. 68 1. 0. 2 71 5 46 2. 63 6.3 2 3 3 56 5.6 3 66 5.08 61 4.69 4 4 46 4.6 4. 3 0 54 4 15 3.46 39 3 2.23 4 31 3.1 22 5 40 45 6. 6. 7. 7 22 7 1. 8 29 8. 17 1.7 1 0. b) What quantities of A and B will Cody purchase in maximizing his utility? Quantity of A O Quantity of B.0 c) How many dollars will Cody save? Dollars Saved $0 SAVE AND CLOSE
Answer the following questions using the following information Columns 1 and 2 in the table below show the marginal utiity that Cody gets by purchasing products A and B. Column 3 shows the marginal utity Cody gets from saving Assume that the price of Ais $13 the price of B is $10, and Cody has an income of $129. a) Find the following senes of MU/S for each column. Note: Keep as much precision as possible during your calculations Your final answer should be accurate to at least two decimal places Column 1 Column 2 Column 3 Units of A MU MU/S Units of B MU MU/S Number of S saved MU MU/S 6.8 13 10 0 70 80 6.15 1. 68 1. 0. 2 71 5 46 2. 63 6.3 2 3 3 56 5.6 3 66 5.08 61 4.69 4 4 46 4.6 4. 3 0 54 4 15 3.46 39 3 2.23 4 31 3.1 22 5 40 45 6. 6. 7. 7 22 7 1. 8 29 8. 17 1.7 1 0. b) What quantities of A and B will Cody purchase in maximizing his utility? Quantity of A O Quantity of B.0 c) How many dollars will Cody save? Dollars Saved $0 SAVE AND CLOSE
Chapter4: Utility Maximization And Choice
Section: Chapter Questions
Problem 4.3P
Related questions
Question
![Answer the following questions using the following information. Columns 1 and 2 in the table below show the marginal utility that Cody gets by purchasing products A and B. Column 3 shows the marginal utility Cody gets from saving Assume that the price of A is $13
the price of B is $10, and Cody has an income of $129.
a) Find the following series of MU/$ for each column.
Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places
Column 1
Column 2
Column 3
Units of A MU MU/S Units of B MU MU/$ Number of $ saved MU MU/S
68
6.8
1
80
6.15
1.
13
0.
2
71
5.46
2
63
6.3
2
10
0.
3
66
5.08
3
56
5.6
3
7
4
61
4.69
4.
46
46
0.
54 4.15
40
4
45
3.46
31
3.1
6.
1
39
3
22
2.2
0.
29
2.23
8
17
1.7
8
b) What quantities of A and B will Cody purchase in maximizing his utility?
Quantity of A: 0
Quantity of B: 0
c) How many dollars will Cody save?
Dollars Saved = $0
SAVE AND CLOSE](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc386ef30-1a0f-4b48-a1da-9f71a099e6bf%2Fad2d2085-db09-4edf-8bf2-74c5cbfddae0%2Fs0o2tud_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Answer the following questions using the following information. Columns 1 and 2 in the table below show the marginal utility that Cody gets by purchasing products A and B. Column 3 shows the marginal utility Cody gets from saving Assume that the price of A is $13
the price of B is $10, and Cody has an income of $129.
a) Find the following series of MU/$ for each column.
Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places
Column 1
Column 2
Column 3
Units of A MU MU/S Units of B MU MU/$ Number of $ saved MU MU/S
68
6.8
1
80
6.15
1.
13
0.
2
71
5.46
2
63
6.3
2
10
0.
3
66
5.08
3
56
5.6
3
7
4
61
4.69
4.
46
46
0.
54 4.15
40
4
45
3.46
31
3.1
6.
1
39
3
22
2.2
0.
29
2.23
8
17
1.7
8
b) What quantities of A and B will Cody purchase in maximizing his utility?
Quantity of A: 0
Quantity of B: 0
c) How many dollars will Cody save?
Dollars Saved = $0
SAVE AND CLOSE
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