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Lee has calculated her marginal utility from buying pizza slices and soda (shown on the table in the worksheet) and wants to use these data to decide how to rationally spend the money she has. The price of pizza is $2.00 and the price of soda is $2.00 question 9  (a) given these prices and your worksheet calculations, what is the first product lee will buy?  (b) would lee ever buy four slides of pizza? Why/why not?  question 10 Given the data in your worksheet, how many pizza slices and sodas lee should buy to maximize her total utility if she rationally spends her budget of 10.00?  question 11  when the price of pizza changes, lee's MU/$P changes. If the price of pizza decreases to $1.50 and her budget decreases to $7.50, how many pzza slices and sodas lee should buy to maximize her total utility?

Lee has calculated her marginal utility from buying pizza slices and soda (shown on the table in the worksheet) and wants to use these data to decide how to rationally spend the money she has. The price of pizza is $2.00 and the price of soda is $2.00 question 9  (a) given these prices and your worksheet calculations, what is the first product lee will buy?  (b) would lee ever buy four slides of pizza? Why/why not?  question 10 Given the data in your worksheet, how many pizza slices and sodas lee should buy to maximize her total utility if she rationally spends her budget of 10.00?  question 11  when the price of pizza changes, lee's MU/$P changes. If the price of pizza decreases to $1.50 and her budget decreases to $7.50, how many pzza slices and sodas lee should buy to maximize her total utility?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Lee has calculated her marginal utility from buying pizza slices and soda (shown on the table in the worksheet) and wants to use these data to decide how to rationally spend the money she has. The price of pizza is $2.00 and the price of soda is $2.00

question 9 

(a) given these prices and your worksheet calculations, what is the first product lee will buy? 
(b) would lee ever buy four slides of pizza? Why/why not? 

question 10
Given the data in your worksheet, how many pizza slices and sodas lee should buy to maximize her total utility if she rationally spends her budget of 10.00? 

question 11 

when the price of pizza changes, lee's MU/$P changes. If the price of pizza decreases to $1.50 and her budget decreases to $7.50, how many pzza slices and sodas lee should buy to maximize her total utility? 

**Q8:** | Quantity | Bottle of Soda Marginal Utility (MU) | Pizza Price = | Slice of Pizza Marginal Utility (MU) | Pizza Price 1 = | MU / $ P1 | Pizza Price 2 = | MU / $ P2 | |----------|-------------------------------------|---------------|--------------------------------------|-----------------|-----------|-----------------|-----------| | 1 | 10 | | 12 | | | | | | 2 | 8 | | 9 | | | | | | 3 | 5 | | 6 | | | | | | 4 | -1 | | -1 | | | | | **Q9:** (a) ________________________________________________________ (b) ________________________________________________________ **Q10:** Budget: ________ Pizza ___________ Sodas ___________ Calculate her total utility ______________ **Q11:** Budget: ________ Pizza ___________ Sodas ___________ Calculate her total utility _______________
Transcribed Image Text:**Q8:** | Quantity | Bottle of Soda Marginal Utility (MU) | Pizza Price = | Slice of Pizza Marginal Utility (MU) | Pizza Price 1 = | MU / $ P1 | Pizza Price 2 = | MU / $ P2 | |----------|-------------------------------------|---------------|--------------------------------------|-----------------|-----------|-----------------|-----------| | 1 | 10 | | 12 | | | | | | 2 | 8 | | 9 | | | | | | 3 | 5 | | 6 | | | | | | 4 | -1 | | -1 | | | | | **Q9:** (a) ________________________________________________________ (b) ________________________________________________________ **Q10:** Budget: ________ Pizza ___________ Sodas ___________ Calculate her total utility ______________ **Q11:** Budget: ________ Pizza ___________ Sodas ___________ Calculate her total utility _______________
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