Suppose that the price of a bag is $50 and the price of a calculator increases from $25 to $50 and Susan's budget is $200. Bundle of bags and calculators Susan can purchase Bags Calculators A 4 B 1 3 2 2 D 3 E 4 Refer to a table above. Bundle maximizes Susan's total utility, which is

Suppose that the price of a bag is $50 and the price of a calculator increases from $25 to $50 and Susan's budget is $200. Bundle of bags and calculators Susan can purchase Bags Calculators A 4 B 1 3 2 2 D 3 E 4 Refer to a table above. Bundle maximizes Susan's total utility, which is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Susan's Total Utility for Bags and Calculators
Bag
Total Utility for bag
Calculator
Total Utility for Calculator
1
10
1
8
2
18
15
3
24
3
20
4
28
4
23
30
5
24
30
6
23
28
7
20
8
24
8
15
Suppose that the price of a bag is $50 and the price of a calculator increases from $25 to $50 and Susan's budget is $200.
Bundle of bags and calculators Susan can purchase
Bags
Calculators
A
4
B
1
3
2
D
3
1
4
Refer to a table above. Bundle
maximizes Susan's total utility, which is
O E: 28
O B: 30
O C: 33
O D: 32
E.

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