Give me correct answer with calculation and full explanation otherwise i give down voteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. Louis is trying to decide what combination of cups and plates to buy. His budget is $12. Plates cost $4 each and cups cost $2each. The numbers in the table represent total utility. Given his budget, which combination will maximize total utility?Quantity Plates Utility from Plates Quantity Cups Utility from Cups33156427934210354112651237512345623456

The wants satisfying power of a commodity is referred to as utility. It is derived from the marginal…

Answered: Louis is trying to decide what…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Give me correct answer with calculation and full explanation otherwise i give down vote

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.

Answer completely and accurate answer.

Rest assured, you will receive an upvote if the answer is accurate.

Louis is trying to decide what combination of cups and plates to buy. His budget is $12. Plates cost $4 each and cups cost $2
each. The numbers in the table represent total utility. Given his budget, which combination will maximize total utility?
Quantity Plates Utility from Plates Quantity Cups Utility from Cups
33
15
64
27
93
42
103
54
112
65
123
75
1
2
3
4
5
6
2
3
4
5
6

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