12) Answer the question on the basis of the following marginal utility data for products X & Y. Assume the prices of X and Y are $4 and $2, respectively, and that the consumers income is $18.Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. Units of X123456Multiple ChoiceMarginalUtility, X201612OO86O2 of X and 1 of YO4What quantities of X and Y should be purchased to maximize utility?4 of X and 5 of Y2 of X and 5 of YUnits of Y1234562 of X and 6 of YMarginalUtility, Y1614121086

Suppose consumers consume two goods; X and Y. Optimal consumption bundle takes place at the…

Answered: What quantities of X and Y should be…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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12) Answer the question on the basis of the following marginal utility data for products X & Y. Assume the prices of X and Y are $4 and $2, respectively, and that the consumers income is $18.

Note:-

Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.

Units of X
1
2
3
4
5
6
Multiple Choice
Marginal
Utility, X
20
16
12
O
O
8
6
O2 of X and 1 of Y
O
4
What quantities of X and Y should be purchased to maximize utility?
4 of X and 5 of Y
2 of X and 5 of Y
Units of Y
1
2
3
4
5
6
2 of X and 6 of Y
Marginal
Utility, Y
16
14
12
10
8
6

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