Question 2: Kamila has $30 to spend on Pita Wraps and Bubble Tea. The price of a Pita Wrap is $6 and the price of a glass of Bubble Tea is $3. The table below shows his total utility from different quantities of the two items. Quantity of Pita Wraps Quantity of Total utility Bubble Tea Total utility 1 60 1 40 102 2 70 3 132 91 4 144 4 106 5 144 112 6. 138 115 7 128 7 115 a) What is Kamila's optimal consumption bundle? Show your logic. 1 b) If Kamila can drink all the Bubble Tea she wants for free, how many glasses will she consume? Briefly explain.

Question 2: Kamila has $30 to spend on Pita Wraps and Bubble Tea. The price of a Pita Wrap is $6 and the price of a glass of Bubble Tea is $3. The table below shows his total utility from different quantities of the two items. Quantity of Pita Wraps Quantity of Total utility Bubble Tea Total utility 1 60 1 40 102 2 70 3 132 91 4 144 4 106 5 144 112 6. 138 115 7 128 7 115 a) What is Kamila's optimal consumption bundle? Show your logic. 1 b) If Kamila can drink all the Bubble Tea she wants for free, how many glasses will she consume? Briefly explain.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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