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?.
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?.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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?.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F92e177a4-f370-447a-8ead-21fa942e18d6%2Ffbf88fcc-cb8c-4b3c-88cd-e53f2aa5ebd9%2F40gti8n_processed.jpeg&w=3840&q=75)
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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