1. A consumer consuming two commodities A and B, has a total income of 16birr with price A and B were 1birr and 4birr respectively Given the following table Q 12 3 4 5678 TUA 30 55 75 90 100 100 90 75 TUB 100 180 240 280 300 300 280 260 a. Calculate marginal utility for good A and B b. Draw the marginal and total utility for commodity A and show the relationship between them. C. How many units of A and B should be consumed to maximize utility d. Calculate the total utility at optimal choice

1. A consumer consuming two commodities A and B, has a total income of 16birr with price A and B were 1birr and 4birr respectively Given the following table Q 12 3 4 5678 TUA 30 55 75 90 100 100 90 75 TUB 100 180 240 280 300 300 280 260 a. Calculate marginal utility for good A and B b. Draw the marginal and total utility for commodity A and show the relationship between them. C. How many units of A and B should be consumed to maximize utility d. Calculate the total utility at optimal choice

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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