Given the Budget of $1000 P of X = 10 10 Q of X 0 10 TU of X (10s) 0 100 180 (Average) MU of X 0 10 MU/S of X 0 1 2000 20 8 0.8 30 20 7 27 40 50 60 70 80 90 100 310 365 415 6 5.5 100 460 502.5 542.5 581.5 5 4.5 4.25 4 3.9 0.7 0.6 0.55 0.5 0.45 0.425 0.4 0.39 P of Y = 500 500 Q of Y 0 1 2 3 4 5 TU of Y 0 510 870 1195 1485 1730 MU of Y 0 510 360 325 290 245 MU/S of Y 0 1.02 0.72 0.65 0.58 0.49 The optimal consumption bundle: of X; of Y

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Question
Given the Budget of $1000
P
of X = 10
10
Q
of X
0
10
TU of X (10s)
0
100
180
(Average) MU of X
0
10
MU/S of X
0
1
2000
20
8
0.8
30 20 7 27
40
50
60
70
80
90
100
310
365
415
6
5.5
100
460
502.5
542.5
581.5
5
4.5
4.25
4
3.9
0.7
0.6
0.55
0.5
0.45
0.425
0.4
0.39
P of Y = 500
500
Q of Y
0
1
2
3
4
5
TU of Y
0
510
870
1195
1485
1730
MU of Y
0
510
360
325
290
245
MU/S of Y
0
1.02
0.72
0.65
0.58
0.49
The optimal consumption bundle:
of X;
of Y
Transcribed Image Text:Given the Budget of $1000 P of X = 10 10 Q of X 0 10 TU of X (10s) 0 100 180 (Average) MU of X 0 10 MU/S of X 0 1 2000 20 8 0.8 30 20 7 27 40 50 60 70 80 90 100 310 365 415 6 5.5 100 460 502.5 542.5 581.5 5 4.5 4.25 4 3.9 0.7 0.6 0.55 0.5 0.45 0.425 0.4 0.39 P of Y = 500 500 Q of Y 0 1 2 3 4 5 TU of Y 0 510 870 1195 1485 1730 MU of Y 0 510 360 325 290 245 MU/S of Y 0 1.02 0.72 0.65 0.58 0.49 The optimal consumption bundle: of X; of Y
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