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 0 1 2 3 4 S 0 40 75 105 130 160 0 - 2 3 4 5 6 7 8 0 30 55 76 92 106 114 116 117

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 0 1 2 3 4 S 0 40 75 105 130 160 0 - 2 3 4 5 6 7 8 0 30 55 76 92 106 114 116 117

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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