Kim has $24 per week in her entertainment budget. She splits her time between going to the movies and yoga classes. Each movie costs $8 while each yoga class costs $3. The total utility from each of these activities is set out in the table below. What is Kim's total utility maximizing point? Movies Total Utility Yoga Classes Total Utility 10 10 40 75 105 130 160 3 4 1 13 14 5 16 17 18 O movies, 8 yoga classes 1 movie, 5 yoga classes 2 movies, 2 yoga classes 3 movies, O yoga classes 30 55 76 192 106 114 116 117

Kim has $24 per week in her entertainment budget. She splits her time between going to the movies and yoga classes. Each movie costs $8 while each yoga class costs $3. The total utility from each of these activities is set out in the table below. What is Kim's total utility maximizing point? Movies Total Utility Yoga Classes Total Utility 10 10 40 75 105 130 160 3 4 1 13 14 5 16 17 18 O movies, 8 yoga classes 1 movie, 5 yoga classes 2 movies, 2 yoga classes 3 movies, O yoga classes 30 55 76 192 106 114 116 117

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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