Question

2.33 Marginal utility schedule for good X and Good y is given in the following table Assuming pri
of X is Rs 1 and price of Y is Rs 1 and money income of the consumer is Rs 13.find the optimum
combination of good X and good Y for maximizing consumers utility.
Consuming units
Mux(utils)
MUy(utils)
1
28
32
2
24
29
3
21
27
4
20
23
5
16
20
6
13
18
7
9
17
8.
5
16
9
3
12
1
10
9
Q.34 Explain with the help of diagrams, the effect of the following changes on the demand of a
commodity.​

Answer 1

Answer:

hey friends good morning

Answer 2

Hey mate!! Here is your answer...

At equilibrium,  

MU  

Y

​  

 

MU  

X

​  

 

​  

=  

P  

Y

​  

 

P  

X

​  

 

​  

=MU  

M

​  

 

MU  

Y

​  

 

MU  

X

​  

 

​  

=1⇒MU  

X

​  

=MU  

Y

​  

 

The consumer gets maximum satisfaction when he purchases 5 units of X and 8 units of Y. Because at this combination, MU  

X

​  

=MU  

Y

​  

=16.