Table 1 Qx MUX QY MUY 15 56 10 108 30 48 20 72 45 40 30 48 60 32 40 36 75 24 50 30 90 16 60 24 105 12 70 21 120 8 80 18 3 S If Fred's income is $150 and he buys 30 units of X and 30 units of Y, then Fred is maximizing his utility. can maximize his utility by buying 15 units of X and 40 units of Y. can increase his utility by buying $1's worth less of X and $1's worth more of Y. can maximize his utility by buying 45 units of X and 20 units of Y. can increase his utility by buying $1's worth more of X and $1's worth less of Y.
Table 1 Qx MUX QY MUY 15 56 10 108 30 48 20 72 45 40 30 48 60 32 40 36 75 24 50 30 90 16 60 24 105 12 70 21 120 8 80 18 3 S If Fred's income is $150 and he buys 30 units of X and 30 units of Y, then Fred is maximizing his utility. can maximize his utility by buying 15 units of X and 40 units of Y. can increase his utility by buying $1's worth less of X and $1's worth more of Y. can maximize his utility by buying 45 units of X and 20 units of Y. can increase his utility by buying $1's worth more of X and $1's worth less of Y.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Table 1
Qx
MUX
QY
MUY
15
56
10
108
30
48
20
72
45
40
30
48
60
32
40
36
75
24
50
30
90
16
60
24
105
12
70
21
120
8
80
18
3
S
If Fred's income is $150 and he buys 30 units of X and 30 units of Y, then Fred
is maximizing his utility.
can maximize his utility by buying 15 units of X and 40 units of Y.
can increase his utility by buying $1's worth less of X and $1's worth more of Y.
can maximize his utility by buying 45 units of X and 20 units of Y.
can increase his utility by buying $1's worth more of X and $1's worth less of Y.
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