Which bundles give the consumer the same amount of utility?HamburgerSbundles r, s, t, and u.bundles s, v, and u.bundles r and w only.bundle v only.10₂IC₁Pizza

A utility function:The utility function is a function that shows the preferences of the consumers,…

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Which bundles give the consumer the same amount of utility? Hamburger bundles r, s, t, and u. bundles s, v, and u. bundles r and w only. bundle v only. 1C₂ -IC₁ Pizza

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 1SQP

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Question

Which bundles give the consumer the same amount of utility?
Hamburger
S
bundles r, s, t, and u.
bundles s, v, and u.
bundles r and w only.
bundle v only.
10₂
IC₁
Pizza

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Consumer spends $ 360 per week on two goods, X and Y. Px=$3 and Py= $2. His utility function is U = 2X^2Y. What quantities of X and Y does he buy each week in quillibrium?
If Jaxson's consuming goods x and y where mrs>mrt, he can increase his utility by a. decreasing x and increasing y. b. increasing x and decreasing y. c. doing nothing, because he is maximizing his utility. d. none of the above.
MUA/PA = zA = 16 − 3x MUB/PB = zB = 14 − 2y, where z is marginal utility per dollar measured in utils, x is the amount spent on product A, and y is the amount spent on product B. Assume that the consumer has $9 to spend on A and B—that is, x + y = 9.
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Hi! Why is the answer B and not C? I thought that to be able to maximize utility we had to buy more of X and less of Y in order to increase marginal utility in Y and decrease marginal utility in X to reach an equal marginal utility for both. Thank you!
Jane has a budget of $200 to spend at the mall. Her two favorite items are bags (Product X) which cost $35 and shoes (Product Y) which cost $40. In the schedule below you can see the marginal utility for each of her favorite items. Which combination would maximize Jane’s utility? HINT: Use utility maximizing formula, MU1/P1 = MU2/P2 Product X Product Y Quantity MUx Quantity MUy 1 140 1 220 2 105 2 160 3 70 3 120 4 35 4 80 5 0 5 10 Group of answer choices 2 bags and 3 pairs of shoes 3 bags and 2 pairs of shoes 5 bags and 0 pair of shoes
Jane has a budget of $120 to spend at the mall. Her two favorite items are bags (Product X) which cost $35 and shoes (Product Y) which cost $40. In the schedule below you can see the marginal utility for each of her favorite items. Which combination would maximize Jane’s utility? HINT: Use utility maximizing formula, MU1/P1 = MU2/P2 Product X Product Y Quantity MUx Quantity MUy 1 140 1 220 2 105 2 160 3 70 3 120 4 35 4 80 5 0 5 10