Consumer behaviour - marginal utility, economics, Microeconomics

Given the following table
MUx MUx/Px Qty MUy MUy/Py
80 40 1 68 17
52 26 2 32 8
20 10 3 28 7
16 8 4 24 6
8 4 5 20 5
a)Determine the price of product x and y.
b)What is the total utility attained by the individual from consuming products x and y in equilibrium?
c)How much should the individual have at the equilibrium point?
d) If the price of product y decreases by 1 pound, derive the new consumption equilibrium point.
Posted Date: 2/20/2012 6:34:58 AM | Location : United States







Related Discussions:- Consumer behaviour - marginal utility, economics, Assignment Help, Ask Question on Consumer behaviour - marginal utility, economics, Get Answer, Expert's Help, Consumer behaviour - marginal utility, economics Discussions

Write discussion on Consumer behaviour - marginal utility, economics
Your posts are moderated
Related Questions
how to compute the price of a laptop increase of 20% and there is a 40% drop in the aquantity demanded

Explain the monopolistic competition model of equilibrium with price competition under chamberlin s model

GENERAL PRINCIPLE OF EXTRACTION OF METALS

Qustions: You are the sales manager at SoftSystem, a dominant firm that produces operating system. The new operating system, Doors XR, has been newly developed. Its demand is e

#question.PROPERTIES OF INDIFFERENCE CURVES WITH TABLE AND DIAGRAM.

When Alex's income increased from $3,000 to $5,000, he increased his consumption of bagels from 4 to 8 a month and decreased his consumption of donuts from 12 to 6 a month. Calcula

what the third degree price discrimination with case study of two successfull and unsuccessfull cases?

Current Account: The Current Account can be broken down into two parts, viz., one, balance of trade, and, two, balance on invisibles. The Balance of Trade (BOT) deals only wit

Policy Orientation for Private Sector Investment The policy perspective in the matter of funding is undergoing a steady transformation aimed at according an increasing role to

What is an index number?compile a chart of the types of consumer price index numbers showing-the agency who prepares it,index formula,target group,groups of items covered and the w