Optimum level of consumption and budget allocation

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Optimal consumption. The following Table describes the demand for tickets to the opera, during the two=-week season.



Total Utility

Price/marginal Utility





















1. Complete the table.

2 .Explain your answer to part A.

3. What is the optimal level of opera consumption if the marginal utility derived from the consumption of movie tickets during the same two-week period costs $0.25 per unit?

Reference no: EM1316947

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