The table details the total utility that J.J. gets from going to see basketball and hockey games during a month. J.J. had $120 to spend. Calculate the marginal utility and the marginal utility per dollar spent for both basketball and hockey given that the price is $20 and $30 respectively. Based on your calculations: how many basketball games would he attend? how many hockey games would he attend?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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The table details the total utility that J.J. gets from going to see basketball and hockey games during a month. J.J. had $120 to spend. Calculate the marginal utility and the marginal utility per dollar spent for both basketball and hockey given that the price is $20 and $30 respectively. Based on your calculations:

how many basketball games would he attend?

how many hockey games would he attend?

Basketball Games $20
Total Marginal
Utility Utility
Quantity
0
1
2
3
4
5
0
240
380
480
560
540
Hockey Games $30
Total Marginal
Utility Utility
MU/P Quantity
0
1
2
3
4
5
0
330
510
630
690
720
MU/P
Transcribed Image Text:Basketball Games $20 Total Marginal Utility Utility Quantity 0 1 2 3 4 5 0 240 380 480 560 540 Hockey Games $30 Total Marginal Utility Utility MU/P Quantity 0 1 2 3 4 5 0 330 510 630 690 720 MU/P
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