Question 5 The following schedules show the amounts of additional satisfaction (marginal utility) that a consumer derives from successive quantities of products X and Y, if this consumer has an income of $18 and the prices of X and Y are $2 and $4 respectively Units of X TUMUMU /S Units of Y TUMU MU /S 20 48 2 38 2 88 120 144 160 168 7 3 54 3 4 68 4 5 80 90 98 172 FIND: 1- The consumer maximize utility by purchasing If the consumer income changed to $26-2

Question 5 The following schedules show the amounts of additional satisfaction (marginal utility) that a consumer derives from successive quantities of products X and Y, if this consumer has an income of $18 and the prices of X and Y are $2 and $4 respectively Units of X TUMUMU /S Units of Y TUMU MU /S 20 48 2 38 2 88 120 144 160 168 7 3 54 3 4 68 4 5 80 90 98 172 FIND: 1- The consumer maximize utility by purchasing If the consumer income changed to $26-2

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 2.5P

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DmISIIng Margifal Otmty n. TOTAL AND MARGINAL UTILITY Reset E UTILITY CALCULATIONS Total Utility Quantity Consumed Total Marginal Utility 70 Utility 60 50 22 40 1 22 30 18 20 40 10 14 2 3 4 54 Quantity Consumed 10 Marginal Utility 4 64 20 6. 10 70 3. 6. -10 6. 72 -20 -2 7 70 Quantity Consumed Quantity Consumed -6 8. 64 8 Prev 1 of 3 Score answer > ...
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