•Suppose that Ahmed's income OR 1800, and he has to purchase two goods X and Y. The price of good X (Px) is OR 10, and the price of good Y (Py) is OR 30. If Ahmed Purchase 60 units from good X, how many units of good Y he can purchase? .

•Suppose that Ahmed's income OR 1800, and he has to purchase two goods X and Y. The price of good X (Px) is OR 10, and the price of good Y (Py) is OR 30. If Ahmed Purchase 60 units from good X, how many units of good Y he can purchase? .

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics

Section: Chapter Questions

Problem 10QP

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Example - Unit 4
•Suppose that Ahmed's income OR 1800,
and he has to purchase two goods X and Y.
The price of good X (Px) is OR 10, and the
price of good Y (Py) is OR 30. If Ahmed
Purchase 60 units from good X, how many
units of good Y he can purchase? .

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Table A – Faris Daily Consumption Dozens of Oysters Total Utility Marginal Utility per Day 1 60 104 3 134 4 152 5 160 Number of Total Utility Marginal Utility Root Beers per Day 1 40 70 3 94 4 114 5 128 Refer to Table A shows Faris's consumption on the oysters and root beers per day for a total five days; i. Compute Faris's marginal utility of for consumption of dozens of oyster and number of root beers per day ii. At what units per day Faris's Diminishing Marginal Utility sets in for consumption of dozens of oyster and number root beers per day. iii. Please briefly explain why Faris will experience the Diminishing Marginal Utility as he consumes more unit of oysters and root beers.
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