Quantity of books is 0,1,2,3,4,5,6
Total utility from books is 0,190,255,300,325,340,346
Quantity of copies is 0,1,2,3,4,5,6
Total utility from copies is 0,170,220,250,265,274,276
A) if the consumer have an income of 4 dollars, book cost is 1 dollar and copy cost is 0.20 dollar, which of the combination maximizes the consumer's utility
B) if the consumer has an income of 4 dollars, book cost is 1 dollar and copy cost is 0.20 dollars what is the consumer's utility when he/she maximizes utilitiy
1
Expert's answer
2020-06-24T13:41:15-0400
A) If I=$4, Pb=$1 and P of copy $0.2, then
"\\frac {MU_B}{P_B}=\\frac {MU_C}{P_C}=45"
The consumer will take 3 books and will do 5 copies.
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