The following table shows the amounts of additional satisfaction (marginal utility) that Ross would get from consuming su quantities of products A and B. a. Fill in the MU/P column for each product. nstructions: 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, MU/P for A MU/P for B Good A utils utils 64 8 1 40 4 56 8 2 36 4 3 48 3 32 4 4 40 8 4 28 4 32 8 24 4 6. 24 8 6 20 4 7 16 8 7 16 4
The following table shows the amounts of additional satisfaction (marginal utility) that Ross would get from consuming su quantities of products A and B. a. Fill in the MU/P column for each product. nstructions: 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, MU/P for A MU/P for B Good A utils utils 64 8 1 40 4 56 8 2 36 4 3 48 3 32 4 4 40 8 4 28 4 32 8 24 4 6. 24 8 6 20 4 7 16 8 7 16 4
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text: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
MU of Good B,
MU/P for A
MU/P for B
Good A
utils
Good B
utils
1
64
1
40
4
56
8
36
4
48
8
3
32
4
4
40
8
4
28
4
32
8
24
4
24
8
20
4
7
16
8
7
16
4
If Ross has an income of $68, how many units
each good will he purchase to maximize his utility?
Instructions: Enter your answers as a whole number.
4 units of good A
4 units of good B
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