Question

The marginal utility schedule for goods A and B are given. Price of good A and B are Rs. 2 and Rs. 3 respectively. Income of the consumer is Rs. 19.
Quantity MU of A. MU of B

1. 52. 33

2. 42. 27

3. 34. 24

4. 26. 18

5. 16. 12

6. 6. 6

a) How many units of both good should be purchased to reach consumer equilibrium?
b) Calculate total utility of consumer at equilibrium level.
c) Is it possible to buy 4 units each of good A and B.

Answer 1

Answer:

4. 26 .18

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