Tom likes to collect Batman and Superman comic books. The table below presents his total and marginal utilities for both types of comic books. Instructions: Be sure to scroll down and answer all questions. Enter your answers as a whole number. Batman Comics, Superman Comics, and Tom's Utility Batman Comic Books Superman Comic Books Quantity Total Utility Marginal Utility Quantity Total Utility Marginal Utility 0 0 — 0 0 — 1 40 40 1 58 58 2 68 28 2 92 34 3 88 20 3 106 14 4 94 6 4 110 4 5 94 0 5 112 2 6 84 –10 6 112 0 7 64 –20 7 104 –8 a. Assume the price of a Batman comic book is $1, and the price of a Superman comic book is $2. Fill in the values for the marginal utility per dollar for Batman and Superman comic books in the table below. Batman Comics, Superman Comics, and Tom's Marginal Utility per Dollar Batman Comic Books Superman Comic Books Quantity Marginal Utility per Dollar Quantity Marginal Utility per Dollar 0 — 0 — 1 1 2 2 3 3 4 4 5 5 6 6 7 7 b. Suppose Tom has $5 to spend on Batman and Superman comic books (nothing else matters to Tom). If Tom wants to maximize his utility, how many of each should he buy? (Click to select) 0 1 2 3 4 5 Batman comic book(s) and (Click to select) 0 1 2 3 4 5 Superman comic book(s) c. Now suppose Tom has $10 to spend on Batman and Superman comic books (nothing else matters to Tom). If Tom wants to maximize his utility, how many of each should he buy? (Click to select) 0 1 2 3 4 5 Batman comic book(s) and (Click to select) 0 1 2 3 4 5 Superman comic book(s)
Tom likes to collect Batman and Superman comic books. The table below presents his total and marginal utilities for both types of comic books.
Instructions: Be sure to scroll down and answer all questions. Enter your answers as a whole number.
Batman Comics, Superman Comics, and Tom's Utility
| Batman Comic Books | Superman Comic Books | |||||
| Quantity | Total Utility | Quantity | Total Utility | Marginal Utility | ||
| 0 | 0 | — | 0 | 0 | — | |
| 1 | 40 | 40 | 1 | 58 | 58 | |
| 2 | 68 | 28 | 2 | 92 | 34 | |
| 3 | 88 | 20 | 3 | 106 | 14 | |
| 4 | 94 | 6 | 4 | 110 | 4 | |
| 5 | 94 | 0 | 5 | 112 | 2 | |
| 6 | 84 | –10 | 6 | 112 | 0 | |
| 7 | 64 | –20 | 7 | 104 | –8 |
a. Assume the
Batman Comics, Superman Comics, and Tom's Marginal Utility per Dollar
| Batman Comic Books | Superman Comic Books | |||
| Quantity | Marginal Utility per Dollar | Quantity | Marginal Utility per Dollar | |
| 0 | — | 0 | — | |
| 1 | 1 | |||
| 2 | 2 | |||
| 3 | 3 | |||
| 4 | 4 | |||
| 5 | 5 | |||
| 6 | 6 | |||
| 7 | 7 |
b. Suppose Tom has $5 to spend on Batman and Superman comic books (nothing else matters to Tom). If Tom wants to maximize his utility, how many of each should he buy?
(Click to select) 0 1 2 3 4 5 Batman comic book(s) and (Click to select) 0 1 2 3 4 5 Superman comic book(s)
c. Now suppose Tom has $10 to spend on Batman and Superman comic books (nothing else matters to Tom). If Tom wants to maximize his utility, how many of each should he buy?
(Click to select) 0 1 2 3 4 5 Batman comic book(s) and (Click to select) 0 1 2 3 4 5 Superman comic book(s)
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