ASAP!! ANSWER PLEASE Danish Wali has Rs.70 to spend on apples and bananas and wants to maximize his utility on his purchase. Based on the data in the table: How many apples and bananas should Danish purchase? What is his total utility from the purchase? Does the utility-maximizing rule hold true for his purchase? Explain. Apples Rs.10 Bananas Rs .5 Quantity MU TU Quantity MU TU 0 - - 0 - - 1 28 28 1 12 12 2 24 52 2 10 22 3 20 72 3 8 30 4 16 88 4 6 36 5 12 100 5 4 40 6 8 108 6 2 42 7 4 112 7 0 42 8 0 112 8 -2 40
ASAP!! ANSWER PLEASE Danish Wali has Rs.70 to spend on apples and bananas and wants to maximize his utility on his purchase. Based on the data in the table: How many apples and bananas should Danish purchase? What is his total utility from the purchase? Does the utility-maximizing rule hold true for his purchase? Explain. Apples Rs.10 Bananas Rs .5 Quantity MU TU Quantity MU TU 0 - - 0 - - 1 28 28 1 12 12 2 24 52 2 10 22 3 20 72 3 8 30 4 16 88 4 6 36 5 12 100 5 4 40 6 8 108 6 2 42 7 4 112 7 0 42 8 0 112 8 -2 40
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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ASAP!! ANSWER PLEASE
Danish Wali has Rs.70 to spend on apples and bananas and wants to maximize his utility on his purchase. Based on the data in the table:
- How many apples and bananas should Danish purchase?
- What is his total utility from the purchase?
- Does the utility-maximizing rule hold true for his purchase? Explain.
Apples Rs.10 |
|
|
Bananas Rs |
.5 |
|
Quantity |
MU |
TU |
Quantity |
MU |
TU |
0 |
- |
- |
0 |
- |
- |
1 |
28 |
28 |
1 |
12 |
12 |
2 |
24 |
52 |
2 |
10 |
22 |
3 |
20 |
72 |
3 |
8 |
30 |
4 |
16 |
88 |
4 |
6 |
36 |
5 |
12 |
100 |
5 |
4 |
40 |
6 |
8 |
108 |
6 |
2 |
42 |
7 |
4 |
112 |
7 |
0 |
42 |
8 |
0 |
112 |
8 |
-2 |
40 |
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