44. Answer the next question(s) based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4 and the price of product Y is $2. The consumer's income is $20. Product X Quantity 11 12 13 14 5 MUX 32 28 24 20 16 Product Y Quantity 12 3 14 MUY 24 20 16 12 18 Refer to the above table. When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be:
44. Answer the next question(s) based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4 and the price of product Y is $2. The consumer's income is $20. Product X Quantity 11 12 13 14 5 MUX 32 28 24 20 16 Product Y Quantity 12 3 14 MUY 24 20 16 12 18 Refer to the above table. When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be:
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 8SQP
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Econ 3
Transcribed Image Text:44. Answer the next question(s) based on the table below showing the marginal utility schedules for product
X and product Y for a hypothetical consumer. The price of product X is $4 and the price of product Y is $2.
The consumer's income is $20.
Product X
Quantity
1
12
13
14
5
MUX
32
28
24
20
16
Product Y
Quantity
12
3
14
MUY
24
20
16
12
18
Refer to the above table. When the consumer purchases the utility-maximizing combination of product X
and product Y, total utility will be:
Transcribed Image Text:Refer to the above table. When the consumer purchases the utility-maximizing combination of product X
and product Y, total utility will be:
O a. 156
O b. 72
O c.
O d.
136
84
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