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Q27. Given below is the utility schedule of a consumer for commodity X.Units of consumption Marginal utility (utils)1242213184155126a) How many units should the consumer purchase to maximize his satisfaction, if price of the commodityis Rs. 6 and the marginal utility of money for him is 3 utils?b) How many units of the commodity, the consumer would like to buy, when price falls to Rs. 5 per unit?9Q28. You are given the following marginal utilities of goods X and Y obtained by a consumer. Given that priceof X= Rs. 5, Price of Y = Rs. 2 and income = Rs. 22, find out the optimum combination of goods. |
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