Confused on how to solve the table and what answers would be best For each of the following combinations of soda and coffee, calculate the marginal utility per dollarfrom the last can of soda and the last cup of coffee. Then, use the dropdown menus in the lastcolumn to indicate which of the combinations satisfy the condition for consumer equilibrium.CoffeeCombinationABCD(Cans perMonth)1007512525SodaMU(Cups perMonth)1005010025daMUConsumerEquilibrium?Suppose Janet has a "caffeine budget" of $395 per month, which she spends on soda and coffee.To maximize her utility, Janet will purchasecans of soda andcoffee per month.cups of Janet enjoys consuming both soda and coffee. Each can of soda costs PS = $1, and each cup ofcoffee costs PC= $2. Suppose that Janet buys 75 cans of soda and 50 cups of coffee per month.The following graphs show her marginal utility curves for soda and coffee. At her currentconsumption level, Janet's marginal utility from consuming the last can of soda she bought isMUS= 12 utils per can, and her marginal utility from consuming the last cup of coffee she bought isMUC= 12 utils per cup.MU OF SODA (Utils per can)24201600255075SODA (Cans per month)100125Combination150?Soda(Cans perMonth)MU OF COFFEE (Utils per cup)242016MUP1200255075COFFEE (Cups per month)Is Janet currently maximizing her utility?No; she likes coffee and soda more than other goods, so she should buy more of both.Yes; the marginal utility she receives from her last can of soda equals that of her last cupof coffee.100No; she could buy less coffee and more soda, not spend any more money, and be betteroff.No; she could buy more coffee and less soda, not spend any more money, and be betteroff.125For each of the following combinations of soda and coffee, calculate the marginal utility per dollarfrom the last can of soda and the last cup of coffee. Then, use the dropdown menus in the lastcolumn to indicate which of the combinations satisfy the condition for consumer equilibrium.Coffee150(Cups perMonth)?MUConsumerEquilibrium?

Optimal consumption bundle: The optimal consumption bundle is such that at that bundle the…

For each of the following combinations of soda and coffee, calculate the marginal utility per dollar from the last can of soda and the last cup of coffee. Then, use the dropdown menus in the last column to indicate which of the combinations satisfy the condition for consumer equilibrium. Coffee Combination ABCD (Cans per Month) 100 75 125 25 Soda MU P (Cups per Month) 100 50 100 25 MU Consumer Equilibrium? Suppose Janet has a "caffeine budget" of $395 per month, which she spends on soda and coffee. To maximize her utility, Janet will purchase cans of soda and coffee per month. cups of

For each of the following combinations of soda and coffee, calculate the marginal utility per dollar from the last can of soda and the last cup of coffee. Then, use the dropdown menus in the last column to indicate which of the combinations satisfy the condition for consumer equilibrium. Coffee Combination ABCD (Cans per Month) 100 75 125 25 Soda MU P (Cups per Month) 100 50 100 25 MU Consumer Equilibrium? Suppose Janet has a "caffeine budget" of $395 per month, which she spends on soda and coffee. To maximize her utility, Janet will purchase cans of soda and coffee per month. cups of

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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