3. Assume that Abdullah has RO 44 to spend on Energy drinks and Protein Bars each month and that both goods must be purchased whole (no fractional units). Energy drinks cost RO 8 and Protein Bars cost RO 3 each. Abdullah's preferences for Energy drinks andProtein Bars are summarized by the following information: Energy drinks TU Protein Bars MU/Py No. per Month MU MU/P. No. per Month TU MU 1 42 1 18 33 45 78 3. 108 4 132 4 54 150 60 6. 162 6. 63 168 66 a. Fill in the figures for marginal utility and marginal utility per dollar both Energy drinks and Protein Bars. b. Are these preferences consistent with the law of ckminishing marginal utility? Explain briefly. c. Given the budget of RO 22, what quantity of Protein Bars and what quantity of Energy drinks will maximize Joe's level of satisfaction?

3. Assume that Abdullah has RO 44 to spend on Energy drinks and Protein Bars each month and that both goods must be purchased whole (no fractional units). Energy drinks cost RO 8 and Protein Bars cost RO 3 each. Abdullah's preferences for Energy drinks andProtein Bars are summarized by the following information: Energy drinks TU Protein Bars MU/Py No. per Month MU MU/P. No. per Month TU MU 1 42 1 18 33 45 78 3. 108 4 132 4 54 150 60 6. 162 6. 63 168 66 a. Fill in the figures for marginal utility and marginal utility per dollar both Energy drinks and Protein Bars. b. Are these preferences consistent with the law of ckminishing marginal utility? Explain briefly. c. Given the budget of RO 22, what quantity of Protein Bars and what quantity of Energy drinks will maximize Joe's level of satisfaction?

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter17: Capital And Time

Section: Chapter Questions

Problem 17.8P

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