Let the following table represents the total utility of a given consumer, in the cardinal utility approach.Q12345Tux814182020Tuy610131516Mux Muy Mux/px Muy/py A) Calculate the MUx and MUy and fill the table in the 4th and 5th rows. B) If the two products (X&Y) are free goods how many of X and Y should the consconsumertake to maximize utility?C) What is the maximum utility of X and Y if they are free?. 1. Let the following table represents the total utility of a given consumer, in the cardinalutility approach.1234TUXTUyMUXMUYMUx/PxMUy/Py8141820206.10131516A) Calculate the MUx and MUy and fill the table in the 4th and 5th rows.B) If the two products (X&Y) are free goods how many of X and Y should the consumertake to maximize utility?C) What is the maximum utility of X and Y if they are free?.

Marginal Utility is calculated by subtracting the total utility of (n-1)th unit from total utility…

Answered: 1. Let the following table represents…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 2SCQ: Take Jeremys total utility information in Exercise 6.1, and use the marginal utility approach to...

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Let the following table represents the total utility of a given consumer, in the cardinal utility approach.

Q	1	2	3	4	5
Tux	8	14	18	20	20
Tuy	6	10	13	15	16
Mux
Muy
Mux/px
Muy/py

A) Calculate the MUx and MUy and fill the table in the 4th and 5th rows. B) If the two products (X&Y) are free goods how many of X and Y should the cons

consumer

take to maximize utility?

C) What is the maximum utility of X and Y if they are free?.

1. Let the following table represents the total utility of a given consumer, in the cardinal
utility approach.
1
2
3
4
TUX
TUy
MUX
MUY
MUx/Px
MUy/Py
8
14
18
20
20
6.
10
13
15
16
A) Calculate the MUx and MUy and fill the table in the 4th and 5th rows.
B) If the two products (X&Y) are free goods how many of X and Y should the consumer
take to maximize utility?
C) What is the maximum utility of X and Y if they are free?.

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