Anatoly's marginal utility for DVDS (D) is MUX and his marginal utility for Xbox games (X) is MUx D. Anatoly's income is $120, the price of a DVD is $20.00, and the price of anXbox game is $10.00. How many DVDS and Xbox games does Anatoly consume to maximize his satisfaction?Anatoly consumesDVDs andXbox games. (Enter your responses using integers.)

Answer - Given in the question -Anatoly's marginal Utility of DVD's (D) MUD = XAnatoly's marginal…

Answered: Anatoly's marginal utility for DVDS (D)…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q6) Utility Ratio and Consumption Maximization A consumer downloads 3 movies and 4 apps per week. Suppose the price is $2 per movie and $2 per app, and the marginal utility for this consumption level is 6 for a movie and 8 for an app. Instructions: Round your responses to one decimal place. a. Calculate, show the formula, marginal utility per dollar. ..Per movie ......Per app b. Is this optimal consumption? c. If not, how should they change their consumption to maximize?
Only typed answer and don't use chat gpt and don't answer in table 2. Charlie consumes apples (A) and bananas (B). His utility function is . The price of apples is $1, the price of bananas is $2, and Charlie’s income is $40. The price of bananas suddenly falls to $1. (a) Before the price change, how many apples and bananas did Charlie consume? (b) After the price change, how many apples and bananas did Charlie consume? (c) If after the price change, Charlie’s income had changed so that he could only attain his original level of utility, how many apples and bananas would he have consumed? (d) What are the magnitudes of the price, substitution, and income effects for the consumption of bananas?
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Tom has a budget of $44 per week that he can spend on Ramen and/or steak burritos. Each burrito costs $10 and each bowl of Ramen is $6. Using the table below, what combination of these two goods will maximize Tom’s utility given his budget constraint?
If at a quantity consumed of 1 unit, total utility equals 25 and marginal utility equals 25, and at a quantity consumed of 2 units, total utility is unknown and marginal utility is 20, and at a quantity consumed of 3 units, total utility is 57 and marginal utility is unknown, what is marginal utility of the third unit?
The principle of diminishing marginal utility says that people don't enjoy consuming more of a good. True or False and Explain the choice
2.5 Ms. Caffeine enjoys coffee (C) and tea (T) accord- ing to the function U(C,T) = 3C+4T. a. What does her utility function say about her MRS of coffee for tea? What do her indiffer- ence curves look like? b. If coffee and tea cost $3 each and Ms. Caffeine has $12 to spend on these products, how much coffee and tea should she buy to maximize her utility? c. Draw the graph of her indifference curve map and her budget constraint, and show that the utility-maximizing point occurs only on the T-axis where no coffee is bought. d. Would this person buy any coffee if she had more money to spend? e. How would her consumption change if the price of coffee fell to $2?
4. Liam initially has a weekly allowance of €24 to spend on eggs (at €0.40 per egg) and beans (at €0.80 per tin). Liam will only consume 4 eggs with each tin of beans and never changes this proportion. (a) What is the utility maximising amount of eggs and beans that Liam buys each week? (b) Suppose the price of eggs rise to €0.60 per egg but the price of beans falls to €0.60 per tin. At the same time, Liam's weekly allowance rises to €30. How much of each good will Liam now buy? Compare your answer to that in (a) and explain the difference, if there is one. Use a diagram to complement your answer.
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qty per week Marginal Utility of songs Marginal Utility of Cookies 1 15 25 13 20 3 12 16 4 11 13 10 11 6. 9 10 7 8. 7 8. 6. 7 10 Above is the utility of Sara for song and cookie consumption. If the price of a song is $2 and the price of a cookie is $1, how many cookies and songs will sara consumer? Why?
am. 113.
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