Quantity 1 2 3 4 5 000 880 O 750 Bobby spends $100 per month on pizza and CDs. His utility from these goods is shown in the table above. The price of a pizza is $10 and the price of a CD is $20. If Bobby maximizes utility from these goods, his total utility is___________ units. 770 Pizza Total utility 95 180 255 320 375 705 Quantity 1 2 3 4 5 CDs Total utility 170 320 450 560 650

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter10: Consumer Choice Theory
Section: Chapter Questions
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Question
Quantity
1
2
3
4
5
880
750
770
Pizza
Total
utility
95
180
255
320
375
705
Quantity
1
Bobby spends $100 per month on pizza and CDs. His utility from these goods is shown in the table
above. The price of a pizza is $10 and the price of a CD is $20. If Bobby maximizes utility from these
goods, his total utility is
units.
23
4
5
CDs
Total
utility
170
320
450
560
650
Transcribed Image Text:Quantity 1 2 3 4 5 880 750 770 Pizza Total utility 95 180 255 320 375 705 Quantity 1 Bobby spends $100 per month on pizza and CDs. His utility from these goods is shown in the table above. The price of a pizza is $10 and the price of a CD is $20. If Bobby maximizes utility from these goods, his total utility is units. 23 4 5 CDs Total utility 170 320 450 560 650
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