Need asap please and thank you. Kim has $24 per week in her entertainment budget. She splits her time betweengoing to the movies and yoga classes. Each movie costs $8 while each yoga classcosts $3. The total utility from each of these activities is set out in the table belowMovies Total YogaUtilityClassesUtilityTotal1401751051301603055769210611411611734347. What is Kim's total utility maximizing point? Hint: you can either calculate themarginal utility per dollar spent or check which option leads to a higher total utility.a) 0 movies, 8 yoga classesO b) 1 movie, 5 yoga classesc) 2 movies, 2 yoga classesd) 3 movies, 0 yoga classes

A budget is an estimate of revenue and expenses for a specific future period of time that is…

Kim has $24 per week in her entertainment budget. She splits her time between going to the movies and yoga classes. Each movie costs $8 while each yoga class costs $3. The total utility from each of these activities is set out in the table below Movies Total Yoga UtilityClassesUtility Total 40 1 75 105 130 160 5 30 55 76 92 106 114 116 117 3 4 What is Kim's total utility maximizing point? Hint: you can either calculate the marginal utility per dollar spent or check which option leads to a higher total utility. a) 0 movies, 8 yoga classes b) 1 movie, 5 yoga classes c) 2 movies, 2 yoga classes

Kim has $24 per week in her entertainment budget. She splits her time between going to the movies and yoga classes. Each movie costs $8 while each yoga class costs $3. The total utility from each of these activities is set out in the table below Movies Total Yoga UtilityClassesUtility Total 40 1 75 105 130 160 5 30 55 76 92 106 114 116 117 3 4 What is Kim's total utility maximizing point? Hint: you can either calculate the marginal utility per dollar spent or check which option leads to a higher total utility. a) 0 movies, 8 yoga classes b) 1 movie, 5 yoga classes c) 2 movies, 2 yoga classes

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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