Refer to the table and assume that each year this consumer buys only annual subscriptions to economics statistics apps and subscriptions to office productivity apps. The price of a subscription to each type of economics statistics app is $2 per year, and the subscription to each office productivity app is $60 per year. If the consumer's available income is $64 per year, what quantity of each item will the individual purchase each year at a consumer optimum? Quantity of Subscriptions to Economics Statistics Apps per Year Quantity of Subscriptions to Office Productivity Apps per Year Total Utility (utils) Total Utility (utils) 1 30 1 600 2 50 2 1,100 3 60 3 1,500 4 68 4 1,800 5 72 5 2,000 6 75 6 2,100 The individual will purchase a quantity of economics statistics apps and office productivity apps each year at a consumer optimum.

Refer to the table and assume that each year this consumer buys only annual subscriptions to economics statistics apps and subscriptions to office productivity apps. The price of a subscription to each type of economics statistics app is $2 per year, and the subscription to each office productivity app is $60 per year. If the consumer's available income is $64 per year, what quantity of each item will the individual purchase each year at a consumer optimum? Quantity of Subscriptions to Economics Statistics Apps per Year Quantity of Subscriptions to Office Productivity Apps per Year Total Utility (utils) Total Utility (utils) 1 30 1 600 2 50 2 1,100 3 60 3 1,500 4 68 4 1,800 5 72 5 2,000 6 75 6 2,100 The individual will purchase a quantity of economics statistics apps and office productivity apps each year at a consumer optimum.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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