The table shows the marginal utility schedules for old product X and new product Y for a hypothetical consumer. The price of X is $3, and the price of good Y is $2. The budget of the consumer is $15. If the consumer buys both old product X and new product Y, how much will the consumer buy of each to maximize utility?
A)3X and 4Y
B)3X and 3Y
C)4X and 3Y
D)4X and 4Y

Question

The table shows the marginal utility schedules for old product X and new product Y for a hypothetical consumer. The price of X is $3, and the price of good Y is $2. The budget of the consumer is $15. If the consumer buys both old product X and new product Y, how much will the consumer buy of each to maximize utility?
A)3X and 4Y 
B)3X and 3Y 
C)4X and 3Y 
D)4X and 4Y

Quizplus · Accepted Answer

The Answer of  The table shows the marginal utility schedules for old product X and new product Y for a hypothetical consumer. The price of X is $3, and the price of good Y is $2. The budget of the consumer is $15. If the consumer buys both old product X and new product Y, how much will the consumer buy of each to maximize utility?
A)3X and 4Y 
B)3X and 3Y 
C)4X and 3Y 
D)4X and 4Y

The Table Shows the Marginal Utility Schedules for Old Product