How much each product be purchased to maximize your utility

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Reference no: EM133613412

Problem: You have $12 to spend on two products: A and B. Product A costs $2 per unit and product B costs $1 per unit. Use the table below to determine: Table of Goods A and B GOOD A (PRICE=$2) GOOD B (PRICE = $1) Quantity of A Total Utility of A Marginal Utility of A (MUA) Marginal Utility Per dollar (MUA/PA) Quantity of B Total Utility of B Marginal Utility of B (MUB) Marginal Utility Per dollar (MUB/PB) 1 10 1 20 2 18 2 26 3 25 3 30 4 31 4 33 5 36 5 35. How much each product will be purchased to maximize your utility? How many units of total utility will the consumer receive from two products?

Reference no: EM133613412

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