The marginal utilities derived from each product are as follows. Number of MU of apples MU of oranges units 1 12 30 2 10 27 3 8 24 4 21 4 18 2 15 7 1 12 An individual is given $15 of pocket money to be spent on either apples or oranges. The price of an apple is $1 and the price of an oranges $3. The consumer will maximize her utility by purchasing 3 apples and 4 oranges 6 apples and 3 oranges O 15 apples and O oranges O O apples and 5 oranges 12 apples and 1 orange O9 apples and 2 oranges 61

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Question
1
The marginal utilities derived from each product
are as follows.
Number of
MU of apples
MU of oranges
units
1
12
30
2
10
27
8
24
4
21
4
18
6
2
15
7
1
12
An individual is given $15 of pocket money to be
spent on either apples or oranges. The price of an
apple is $1 and the price of an oranges $3. The
consumer will maximize her utility by purchasing
O 3 apples and 4 oranges
O 6 apples and 3 oranges
15 apples and 0 oranges
O O apples and 5 oranges
O 12 apples and 1 orange
O9 apples and 2 oranges
Transcribed Image Text:The marginal utilities derived from each product are as follows. Number of MU of apples MU of oranges units 1 12 30 2 10 27 8 24 4 21 4 18 6 2 15 7 1 12 An individual is given $15 of pocket money to be spent on either apples or oranges. The price of an apple is $1 and the price of an oranges $3. The consumer will maximize her utility by purchasing O 3 apples and 4 oranges O 6 apples and 3 oranges 15 apples and 0 oranges O O apples and 5 oranges O 12 apples and 1 orange O9 apples and 2 oranges
Refer to the consumer's utility data below. Which
of the statement is true.
Total Marginal
consumed utility utility
Units
1
12
A
2
В
10
3
30
C
4
6
F
4
C is 6 and F is 36
C is 7 and F is 39
C is 8 and F is 40
O C is 8 and F is 36
Transcribed Image Text:Refer to the consumer's utility data below. Which of the statement is true. Total Marginal consumed utility utility Units 1 12 A 2 В 10 3 30 C 4 6 F 4 C is 6 and F is 36 C is 7 and F is 39 C is 8 and F is 40 O C is 8 and F is 36
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