Give please answer every part and take a like 21. Ted has 14 hours per week to spend on watching movies and going to the gym. Each movie takes2 hours and each gym visit takes 2 hours. The accompanying table shows Ted's utilities fromboth going to the gym and watching a movie.Quantity ofgym visitsUtility fromgym visitsQuantity ofper weekmovies perweekUtility frommovies110016021802402802341101501803101903301953407197a. Which bundles of gym visits and movies can Damien consume per week if hespends all his time either going to the gym or watching movies? Please list ALLpossible bundlesb. Illustrate Ted's budget line with gym visits on the horizontal axis and movies on thevertical axisc. Find the marginal utilities and marginal utilities per hour spend on both movies andgoing to the gym

Ted has 14 hours per week to spend watching movies and going to the gym.Each movie takes 2 hours and…

21. Ted has 14 hours per week to spend on watching movies and going to the gym. Each movie takes 2 hours and each gym visit takes 2 hours. The accompanying table shows Ted's utilities from both going to the gym and watching a movie. Quantity of gym visits per week 1 Utility from gym visits Quantity of movies per week Utility from movies 100 1 60 234 180 240 23 110 150 280 310 180 190 195 197 330 340 a. Which bundles of gym visits and movies can Damien consume per week if he spends all his time either going to the gym or watching movies? Please list ALL possible bundles b. Illustrate Ted's budget line with gym visits on the horizontal axis and movies on the vertical axis c. Find the marginal utilities and marginal utilities per hour spend on both movies and going to the gym

21. Ted has 14 hours per week to spend on watching movies and going to the gym. Each movie takes 2 hours and each gym visit takes 2 hours. The accompanying table shows Ted's utilities from both going to the gym and watching a movie. Quantity of gym visits per week 1 Utility from gym visits Quantity of movies per week Utility from movies 100 1 60 234 180 240 23 110 150 280 310 180 190 195 197 330 340 a. Which bundles of gym visits and movies can Damien consume per week if he spends all his time either going to the gym or watching movies? Please list ALL possible bundles b. Illustrate Ted's budget line with gym visits on the horizontal axis and movies on the vertical axis c. Find the marginal utilities and marginal utilities per hour spend on both movies and going to the gym

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 3SQP

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