32.How to find the optimum?
Similar Past Exam Question Compare: Question 1: A consumer has a utility function for cable movies given by the following function: U = 18X - 2X3/2, for X ≤ 36Where X is the number of cable movies viewed per month and U is measured in dollars. a). If the price of pay-per-view cable movies is set at $3 per movie, the number of cable movies purchased by this consumer each month will be:
b). If, instead, the price of pay-per-view cable movies is set at $9 per movie, the consumer surplus gained by this consumer each month through purchasing cable movies (to the nearest dollar) will be: