Answer to Question #283193 in Microeconomics for Faizi

Question #283193

Jason enjoys rock CDs and spy novels and spends a60 a month on them. The following table shows the utility he gets from each good: Quantity Utility from Utility from per month rock CDs spy novels 1 60 20 2 110 38 3 150 53 4 180 64 5 200 70 6 206 75 a Draw graphs showing Jason’s utility from rock CDs and from spy novels. b Compare the two utility graphs. Can you say anything about Jason’s preferences?

Expert's answer

let's solve it in EXCEL

a)

b)Comparing the two charts, we can say that Jason reads more rock discs, since the usefulness of consuming this product is higher

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