Please answer PART A 6. Tom has a weekly allowance of $24, all of which he spendson pizza and movie rentals. Pizza costs $6 per slice andmovies are $3 per rental.a. List all possible combinations of the two goods that Tomcan purchase.b. Using the chart below, what is Tom's utility maximizingbundle?Pizza slices Total Pizza Utility Movie Rentals Total Movie Utility0001204036464850585466567257765778572345678012345678

Utility means satisfaction.Marginal utility is the utility derived from the consumption of an…

6. Tom has a weekly allowance of $24, all of which he spends on pizza and movie rentals. Pizza costs $6 per slice and movies are $3 per rental. a. List all possible combinations of the two goods that Tom can purchase.

6. Tom has a weekly allowance of $24, all of which he spends on pizza and movie rentals. Pizza costs $6 per slice and movies are $3 per rental. a. List all possible combinations of the two goods that Tom can purchase.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics

Section: Chapter Questions

Problem 3WNG

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Question

Please answer PART A

6. Tom has a weekly allowance of $24, all of which he spends
on pizza and movie rentals. Pizza costs $6 per slice and
movies are $3 per rental.
a. List all possible combinations of the two goods that Tom
can purchase.
b. Using the chart below, what is Tom's utility maximizing
bundle?
Pizza slices Total Pizza Utility Movie Rentals Total Movie Utility
0
0
0
1
20
40
36
46
48
50
58
54
66
56
72
57
76
57
78
57
2
3
4
5
6
7
8
0
1
2
3
4
5
6
7
8

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