f the price of A, B, and C are $2, $3, and $1, respectively, and the consumer has $26 to spend on these three products, what combination of the three products should be purchased in order to maximize utility? Blank 1 units of the A good. Blank 2 units of the B good. Blank 3 units of the C good. The total utility of consuming five units of the B good is Blank 4 utils. The total utility of consuming three untis of the A good is Blank 5 utils.

f the price of A, B, and C are $2, $3, and $1, respectively, and the consumer has $26 to spend on these three products, what combination of the three products should be purchased in order to maximize utility? Blank 1 units of the A good. Blank 2 units of the B good. Blank 3 units of the C good. The total utility of consuming five units of the B good is Blank 4 utils. The total utility of consuming three untis of the A good is Blank 5 utils.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.3P

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Question

If the price of A, B, and C are $2, $3, and $1, respectively, and the consumer has $26 to spend on these three products, what combination of the three products should be purchased in order to maximize utility?

Blank 1 units of the A good.

Blank 2 units of the B good.

Blank 3 units of the C good.

The total utility of consuming five units of the B good is Blank 4 utils.

The total utility of consuming three untis of the A good is Blank 5 utils.

(1)
Marginal Marginal Marginal
utility, A utility, B utility, C
(2)
(3)
Unit of
product
First
18
39
12
Second
16
36
10
Third
14
33
9
Fourth
12
30
8
Fifth
10
27
7
Sixth
8
24
5
Seventh
21
3

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what are the units of a good?

what are the units of b good?

what are the units of c good?

the total utility of consuming five units of the b good is what utils?

the total utility of consuming three units of the a good is what utils?

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