Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 3SQP
Related questions
Question
Michelle has $7 to spend on makeup and clothes and wants to maximize her
utility on her purchase. Based on the data in the table, how much makeup and
clothes should Michelle purchase to maximize her utility. Show all working
Makeup= $1 Clothes = $0.50
Quantity Total Utility Quantity Total Utility
1 28 1 12
2 52 2 22
3 72 3 30
4 88 4 36
5 100 5 40
6 108 6 42
7 112 7 42
8 112 8 40
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