Zander has a weekly allowance of $24, all of which he spends on pizza and movie rentals, whose prices are $6 per slice and $3 per rental, respectively. We can assume that pizza slices and movie rentals are available only in whole-number amounts.Enter your responses as whole numbers.a. For the given levels of pizza consumption, calculate how many rentals Zander can afford with his remaining income. PizzaRentals0 1 2 3 4 b. Using the utility values in the table below, how many pizza slices and how many movie rentals should Zander consume each week to maximize his total utility? Pizza slices per weekUtils/week from pizzaMovie rentals per weekUtils/week from rentals0000120140236246348350458454566556672657776757878857Pizza slices to be consumed per week: Movie rentals to be consumed per week:

The maximum utility value shows the maximum satisfaction received by the consumer from the…

Answered: Zander has a weekly allowance of $24,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Zander has a weekly allowance of $24, all of which he spends on pizza and movie rentals, whose prices are $6 per slice and $3 per rental, respectively. We can assume that pizza slices and movie rentals are available only in whole-number amounts.

Enter your responses as whole numbers.

a. For the given levels of pizza consumption, calculate how many rentals Zander can afford with his remaining income.

Pizza	Rentals
0
1
2
3
4

b. Using the utility values in the table below, how many pizza slices and how many movie rentals should Zander consume each week to maximize his total utility?

Pizza slices per week	Utils/week from pizza	Movie rentals per week	Utils/week from rentals
0	0	0	0
1	20	1	40
2	36	2	46
3	48	3	50
4	58	4	54
5	66	5	56
6	72	6	57
7	76	7	57
8	78	8	57

Pizza slices to be consumed per week:

Movie rentals to be consumed per week:

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