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Micro Chapter 10 Excel Assignment(1) micro

# Micro Chapter 10 Excel Assignment(1) micro - Chapter 10 The...

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Chapter 10 - The Logic of Individual Choice to purchase with \$6. Assume the price of one Weight Watcher’s frozen dinner is \$2 and the price of one dozen jelly donuts is \$1. His total utility is given in the following table. Jelly Donuts Frozen Dinners Total Utility MU per Dollar Total Utility MU per Dollar 0 0 0 0 1 12 12 12 1 16 16 8 2 21 9 9 2 32 16 8 3 27 6 6 3 46 14 7 4 30 3 3 4 46 0 0 5 30 0 0 5 42 -4 -2 6 28 -2 -2 6 36 -6 -3 Kent will buy 2 frozen dinners and 2 dozen donuts. Kent will by 2 dozen donuts and 0 frozen dinners 2. Given the following Marginal Utility functions for goods X and Y, complete the following table. Good X Total Utility Good Y Total Utility 1 30.00 30.00 1 30 30 2 45.00 15.00 2 58 28 3 55.00 10.00 3 84 26 4 62.50 7.50 4 108 24 5 68.50 6.00 5 130 22 6 73.50 5.00 6 150 20 7 77.79 4.29 7 168 18 8 81.54 3.75 8 184 16 9 84.87 3.33 9 198 14 10 87.87 3.00 10 210 12 11 90.60 2.73 11 220 10 12 93.10 2.50 12 228 8 13 95.41 2.31 13 234 6 14 97.55 2.14 14 238 4 15 99.55 2.00 15 240 2 16 101.43 1.88 16 240 0 17 103.19 1.76 17 238 -2 18 104.86 1.67 18 234 -4 19 106.44 1.58 19 228 -6 20 107.94 1.50 20 220 -8 a. At which point is total utility maximized for good X? What happens if you consume beyond that point?
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