(Table: Optimal Choice of Yogurt and Cheese) Use Table: Optimal Choice of Yogurt and Cheese. The price of yogurt is $2 per unit, and the price of cheese is $4 per pound. Hailey's income is $16. If she spends all of her income on cheese, the most she can buy is pounds of cheese, and her total utility will be Table: Utility from Yogurt and Cheese Number of yogurts 0 1 2 3 4 5 6 7 8 Total utility for yogurt 0 32 60 84 104 120 132 140 144 Pounds of cheese 0 1 2 3 4 5678 Total utility for cheese 0 44 84 120 152 180 204 224 240

(Table: Optimal Choice of Yogurt and Cheese) Use Table: Optimal Choice of Yogurt and Cheese. The price of yogurt is $2 per unit, and the price of cheese is $4 per pound. Hailey's income is $16. If she spends all of her income on cheese, the most she can buy is pounds of cheese, and her total utility will be Table: Utility from Yogurt and Cheese Number of yogurts 0 1 2 3 4 5 6 7 8 Total utility for yogurt 0 32 60 84 104 120 132 140 144 Pounds of cheese 0 1 2 3 4 5678 Total utility for cheese 0 44 84 120 152 180 204 224 240

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please answer both Thank you
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