Given the following data, please determine how much of good A and good B should the consumer preferto maximize utility that is within his/her budget.Money Income - PhP 120Price of Good B - PhP 8Unit of Product1st2nd3rd4th5th6th7th8thDetermine:Good AMUa(utils) | MUa/PhP14108754.520Price of Good A- PhP 71. Amount of Good A to purchase2. Amount of Good B to purchaseJuaGood BMUa (utils) | MUb/PhP2824191312631TUR3.Total amount purchased4. Total maximum possible utility derived from the amount of Good A and B purchased andconsumed which are within the budget constraint.5. Show other combination/s of Good A and B that are either not within the budget constraint ordoes not maximize total utility.6. Conclusion.

Given Price of good A = Php 7 Price of good B = Php 8 Money income =120 General equation of budget…

Given the following data, please determine how much of good A and good B should the consumer prefer to maximize utility that is within his/her budget. Money Income - PhP 120 Price of Good B - PhP 8 Good A Unit of Product MUa(utils) | MUa/PhP 14 10 8 7 5 4.5 2 0 1st 2nd 3rd 4th 5th 6th 7th 8th Determine: Price of Good A- PhP 7 1. Amount of Good A to purchase 2. Amount of Good B to purchase 3. Total amount purchased Jua Good B MUa(utils) | MUb/PhP 28 24 19 13 12 6 3 1 TUR

Given the following data, please determine how much of good A and good B should the consumer prefer to maximize utility that is within his/her budget. Money Income - PhP 120 Price of Good B - PhP 8 Good A Unit of Product MUa(utils) | MUa/PhP 14 10 8 7 5 4.5 2 0 1st 2nd 3rd 4th 5th 6th 7th 8th Determine: Price of Good A- PhP 7 1. Amount of Good A to purchase 2. Amount of Good B to purchase 3. Total amount purchased Jua Good B MUa(utils) | MUb/PhP 28 24 19 13 12 6 3 1 TUR

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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