4. The price of Axe is $3 and the price of chalk is $5. If you are an optimizing consumer with a budget of $35 who only spends money on Axe and chalk, then tell how many of each you would buy and what would be your total utility. Show your work. MU of chalk MU of Axe 36 21 32 20 27 18 20 15 15 12 9 9 4 6 1 3 Quantity 1 2 3 4 5 6 7 8 Number of Axe: Number of chalk: Total utility:

4. The price of Axe is $3 and the price of chalk is $5. If you are an optimizing consumer with a budget of $35 who only spends money on Axe and chalk, then tell how many of each you would buy and what would be your total utility. Show your work. MU of chalk MU of Axe 36 21 32 20 27 18 20 15 15 12 9 9 4 6 1 3 Quantity 1 2 3 4 5 6 7 8 Number of Axe: Number of chalk: Total utility:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

pros and cons of shared economy in details
Create your own creative ethical principle with a combination of ethical principles in Ethics.
Why Do We Need to Use Cash Flows in Economic Analysis?
how to keep a realistic budget with personal economy?
You and your family was going to a vacation. Explain how you arrive with your decision and explain where and when. Discuss the roles of family members in terms of: •end-users •customer •Influencer
Write a short description about Jeff Bezos and about his achievements.
Why do some prospective business owners refuse to plan?
How research design is a logical rather than a logistical exercise?
I'm still not understanding
Address specific issues identified separately;
Why junk food is a demerit goods
How can the company consider quality Improvement?