1. Let the following table represents the total utility of a given consumer, in the cardinal utility approach. 1 3. 4 5 TUX TUy MUX MUy MUX/Px MUy/Py 8. 14 18 20 20 6. 10 13 15 16 A) Calculate the MUx and MUy and fill the table in the 4t" 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?.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Let the following table represents the total utility of a given consumer, in the cardinal utility approach.

Q 1 2 3 4 5
Tux 8 14 18 20 20
Tuy 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 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?.

1. Let the following table represents the total utility of a given consumer, in the cardinal
utility approach.
1
2
3
4
TUX
TUy
MUX
MUY
MUx/Px
MUy/Py
8
14
18
20
20
6.
10
13
15
16
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?.
Transcribed Image Text:1. Let the following table represents the total utility of a given consumer, in the cardinal utility approach. 1 2 3 4 TUX TUy MUX MUY MUx/Px MUy/Py 8 14 18 20 20 6. 10 13 15 16 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?.
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