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What combination of units of products U, W, X, Y, and Z will maximize total utility for a person whose budget is P1,500 and whose marginal utility schedule is shown in the following table. Marginal Utility Qty. MUu MUw MUx MUy MUz 1 50 30 35 90 75 2 50 15 28 84 65 3 35 15 25 80 63 4 25 10 12 75 60 5 15 10 5 62 54 6 10 5 5 48 50 7 5 0 5 35 40 8 0 0 5 30 30   Price Pu = 80 Pw = 20 Px = 45 Py = 200 Pz = 100 Legend:     Pi = Price per unit of product i (i= u, w, x, y, z) MUi = Marginal Utility of product i   (i= u, w, x, y, z)   Upload an Excel file that shows

What combination of units of products U, W, X, Y, and Z will maximize total utility for a person whose budget is P1,500 and whose marginal utility schedule is shown in the following table. Marginal Utility Qty. MUu MUw MUx MUy MUz 1 50 30 35 90 75 2 50 15 28 84 65 3 35 15 25 80 63 4 25 10 12 75 60 5 15 10 5 62 54 6 10 5 5 48 50 7 5 0 5 35 40 8 0 0 5 30 30   Price Pu = 80 Pw = 20 Px = 45 Py = 200 Pz = 100 Legend:     Pi = Price per unit of product i (i= u, w, x, y, z) MUi = Marginal Utility of product i   (i= u, w, x, y, z)   Upload an Excel file that shows

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What combination of units of products U, W, X, Y, and Z will maximize total utility for a person whose budget is P1,500 and whose marginal utility schedule is shown in the following table.

Marginal Utility
Qty. MUu MUw MUx MUy MUz
1 50 30 35 90 75
2 50 15 28 84 65
3 35 15 25 80 63
4 25 10 12 75 60
5 15 10 5 62 54
6 10 5 5 48 50
7 5 0 5 35 40
8 0 0 5 30 30

 

Price Pu = 80 Pw = 20 Px = 45 Py = 200 Pz = 100

Legend:

    Pi = Price per unit of product i (i= u, w, x, y, z)

MUi = Marginal Utility of product i   (i= u, w, x, y, z)

 

Upload an Excel file that shows the following: (1) Number of units to buy for u, w, x, y, and z (2) Total money to spend (3) Total utility of buyer

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