Business, 20.04.2020 17:08, ravenhudsonmail46
Answer the below question on the basis of the following marginal utility data for products X and Y. Assume that the prices of X and Y are $4 and $2 respectively and that the consumer's income is $18.1. What level of total utility will the utility-maximizing consumer realize?a. 96 utilsb. 108 utilsc. 72 utilsd. 142 utils2. What quantities of X and Y should be purchased to maximize utility?a. 2 of X and 1 of Yb. 4 of X and 5 of Yc. 2 of X and 5 of Yd. 2 of X and 6 of Y3. If the price of X decreases to $2, then the utility-maximizing combination of the two products is:a. 2 of X and 5 of Yb. 4 of X and 6 of Yc. 6 of X and 3 of Yd. 4 of X and 5 of YNote:a table is drawn which shows marginal utility
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Answer the below question on the basis of the following marginal utility data for products X and Y....
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