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Problem
An individual is given a voucher worth RM300 to spend in a Malay Restaurant which sell only Rendang and Satay. The table 2 below show the total utility of satay and rendang that Dr. Mustafa earn after IFTAR. Table 2 No of portions Total utility of Satay Total utility of Rendang 1 100 160 2 190 310 3 270 450 4 340 580 5 400 700 6 450 810 7 490 910 8 520 1000 9 540 1080 10 550 1150. Answer all question below:
1. If the price of a portion of Satay is RM15 and that of a portion of Rendang is RM30. Identify 4 possibilities of principles to maximize utility (satisfaction).
2. Investigate the quantity of Satay and Rendang to maximize the utility for Dr. Mustafa.
3. Calculate the total marginal utility earn by Dr. Mustafa in equilibrium.
4. What is the implication if, Dr. Mustafa spend RM105 its income/budget/voucher. Justify your answer.
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