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44. Answer the next question(s) based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4 and the price of product Y is $2. The consumer's income is $20. Product X Quantity 11 12 13 14 5 MUX 32 28 24 20 16 Product Y Quantity 12 3 14 MUY 24 20 16 12 18 Refer to the above table. When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be:

44. Answer the next question(s) based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4 and the price of product Y is $2. The consumer's income is $20. Product X Quantity 11 12 13 14 5 MUX 32 28 24 20 16 Product Y Quantity 12 3 14 MUY 24 20 16 12 18 Refer to the above table. When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be:

Principles of Economics, 7th Edition (MindTap Course List)
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
Problem 13PA
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44. Answer the next question(s) based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4 and the price of product Y is $2. The consumer's income is $20. Product X Quantity 1 12 13 14 5 MUX 32 28 24 20 16 Product Y Quantity 12 3 14 MUY 24 20 16 12 18 Refer to the above table. When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be:
Transcribed Image Text:44. Answer the next question(s) based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4 and the price of product Y is $2. The consumer's income is $20. Product X Quantity 1 12 13 14 5 MUX 32 28 24 20 16 Product Y Quantity 12 3 14 MUY 24 20 16 12 18 Refer to the above table. When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be:
Refer to the above table. When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be: O a. 156 O b. 72 O c. O d. 136 84
Transcribed Image Text:Refer to the above table. When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be: O a. 156 O b. 72 O c. O d. 136 84
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