Solved

Tony Has $64 to Spend on Jeans and T-Shirts

Question 335

Essay

Tony has $64 to spend on jeans and T-shirts. Use the following table to find the combination of jeans and T-shirts that will maximize Tony's utility.

 T-Shirts ($6)  Jeans ($20)  Quantity MU Quantity  MU 0014511202392673363554274275155196666737\begin{array}{l}\hline \quad {\text { T-Shirts (\$6) }} \quad \quad \quad {\text { Jeans (\$20) }} \\\begin{array}{|c|c|c|c|}\hline \text { Quantity } & M U & \text { Quantity } & \text { MU } \\\hline 0 & - & 0 & - \\\hline 1 & 45 & 1 & 120 \\\hline 2 & 39 & 2 & 67 \\\hline 3 & 36 & 3 & 55 \\\hline 4 & 27 & 4 & 27 \\\hline 5 & 15 & 5 & 19 \\\hline 6 & 6 & 6 & 6 \\\hline 7 & 3 & 7 & \\\hline\end{array}\end{array}

Correct Answer:

verifed

Verified

The combination is four T-shirts and two...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents