QUESTION 6: 1 POINT Marginal Utility per Dollar |Quantity of Total Marginal Product A Utility Marginal Utility per Quantity of Total Marginal Product B Utility Marginal Utility per Utility Utility Dollar Dollar 1 30 30 ? 1 34 34 57 27 ? 2 66 32 ? 3 81 24 ? 3 96 30 ? 4 102 21 ? 4 124 28 ? 5 120 18 5 150 26 135 15 6. 174 24 ? 7 147 12 ? 7 196 22 ? Your buddy Amanda wants your advice. She presents you with the utility schedule above and wants to know how many units of Product B she should purchase to maximize her utility. She tells you the price of Product A is $6 and the price of Product B is $10. Amanda informs you she only wants to spend $60. How many units of Product B do you tell Amanda to purchase?

QUESTION 6: 1 POINT Marginal Utility per Dollar |Quantity of Total Marginal Product A Utility Marginal Utility per Quantity of Total Marginal Product B Utility Marginal Utility per Utility Utility Dollar Dollar 1 30 30 ? 1 34 34 57 27 ? 2 66 32 ? 3 81 24 ? 3 96 30 ? 4 102 21 ? 4 124 28 ? 5 120 18 5 150 26 135 15 6. 174 24 ? 7 147 12 ? 7 196 22 ? Your buddy Amanda wants your advice. She presents you with the utility schedule above and wants to know how many units of Product B she should purchase to maximize her utility. She tells you the price of Product A is $6 and the price of Product B is $10. Amanda informs you she only wants to spend $60. How many units of Product B do you tell Amanda to purchase?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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