Question

Marginal Utility Schedule of Jun for beer Q MU in monetary terms 1 10 3 7 3 5 4 3 Price of beer =P5.00 a. How many bottles of beer does jun needs to take to maximize his utility?

Answer 1

The marginal utility per dollar column can be calculated by marginal utility divide by 5.

 Number of bottles Jun  needs to take to maximize his utility is 8. This is because the total utility is 7.2, adding the column marginal utility per dollar.