1. Let the following table represents the total utility of a given consumer, in the cardinal utility approach. Q TUX TUY 1 2 3 4 8 14 18 20 20 6. 10 13 15 16 MUX MUY MUx/Px MUy/Py A) Calculate the MUx and MUy and fill the table in the 4th and 5th B) If the two products (X&Y) are free goods how many of X and Y should the consumer take to maximize utility? rows. C) What is the maximum utility of X and Y if they are free?.
Let the following table represents the total utility of a given consumer, in the cardinal utility approach
A) Calculate the MUx and MUy and fill the table in the 4th and 5th rows. B) If the two products (X&Y) are free goods how many of X and Y should the cons
consumer
take to maximize utility?
C) What is the maximum utility of X and Y if they are free?.
D) Assuming the consumer has any amount of money (enough budget) how many of X and Y should the consumer buy, to maximize utility?
E) What is the total utility of X and Y?
F) Let now price of X is 4 birr per unit and price of Y is 2 birr per unit and budget of the consumer for consumption of X and Y is 20 birr. Given budget constraint how many
of X and Y should the consumer buy to maximize utility?
G) What are the total utility of X and Y
![1. Let the following table represents the total utility of a given consumer, in the cardinal
utility approach.
Q
TUX
TUY
MUX
MUY
1
4
5
8
14
18
20
20
6.
10
13
15
16
MUx/Px
MUy/PY
A) Calculate the MUx and MUy and fill the table in the 4th
and 5th
rows.
B) If the two products (X&Y) are free goods how many of X and Y should the consumer
take to maximize utility?
C) What is the maximum utility of X and Y if they are free?.
D) Assuming the consumer has any amount of money (enough budget) how many of X
and Y should the consumer buy, to maximize utility?
E) What is the total utility of X and Y?
F) Let now price of X is 4 birr per unit and price of Y is 2 birr per unit and budget of the
consumer for consumption of X and Y is 20 birr. Given budget constraint how many
of X and Y should the consumer buy to maximize utility?
G) What are the total utility of X and Y](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F92e177a4-f370-447a-8ead-21fa942e18d6%2F1b601cdf-67e3-431e-8a30-4efbf2c3355b%2F2jyrgh_processed.jpeg&w=3840&q=75)
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