The following table shows the amounts of additional satisfaction (marginal utility) that Ross would get from consuming successive quantities of products A and B. a. Fill in the MU/P column for each product. Instructions: Enter your answers rounded to one decimal place. Price of Good A = $8 Price of Good B = $4 Units of MU of Good A, Units of Good B MU of Good B, utils MU/P for A MU/P for B Good A utils 1 64 1 40 2 56 2 36 3 48 3 32 4 40 4 28 32 5 24 6 24 6 20 7 16 7 16 If Ross has an income of $56, how many units of each good will he purchase to maximize his utility? Instructions: Enter your answers as a whole number. units of good A units of good B

The following table shows the amounts of additional satisfaction (marginal utility) that Ross would get from consuming successive quantities of products A and B. a. Fill in the MU/P column for each product. Instructions: Enter your answers rounded to one decimal place. Price of Good A = $8 Price of Good B = $4 Units of MU of Good A, Units of Good B MU of Good B, utils MU/P for A MU/P for B Good A utils 1 64 1 40 2 56 2 36 3 48 3 32 4 40 4 28 32 5 24 6 24 6 20 7 16 7 16 If Ross has an income of $56, how many units of each good will he purchase to maximize his utility? Instructions: Enter your answers as a whole number. units of good A units of good B

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 3SQP

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The following table shows the amounts of additional satisfaction (marginal utility) that Ross would get from consuming successive quantities of products A and B. a. Fill in the MU/P column for each product. Instructions: Enter your answers rounded to one decimal place. Price of Good A = $8 Price of Good B = $4 MU of Good B, Units of Good A MU of Good A, Units of Good B MU/P for A MU/P for B utils utils 1 56 1 32 2 48 28 3 32 3 24 4 24 4 20 5 20 12 6 16 10 7 12 7 8 If Ross has an income of $64, how many units of each good will he purchase to maximize his utility? Instructions: Enter your answers as a whole number. |units of good A |units of good B
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