Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $1.5 and $3, respectively, and that the consumer's income is $18   Units of L Total Utility Units of M Total Utility 1 9 1 16 2 15 2 28 3 18 3 36 4 20 4 40 5 21 5 42   What level of total utility does the rational consumer realize in equilibrium?   Multiple Choice   182 utils   63 utils   60 utils   51 utils

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $1.5 and $3, respectively, and that the consumer's income is $18

 

Units of L Total Utility Units of M Total Utility
1 9 1 16
2 15 2 28
3 18 3 36
4 20 4 40
5 21 5 42

 

What level of total utility does the rational consumer realize in equilibrium?

 

Multiple Choice
  •  
    182 utils
  •  
    63 utils
  •  
    60 utils
  •  
    51 utils
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