The table shows the marginal utility schedules for old product X and new product Y for a hypothetical consumer. The price of X is $4, and the price of good Y is $3. The budget of the consumer is $18. When the consumer purchases the utility-maximizing combination of old product X and new product Y, total utility will be
A)78.
B)64.
C)60.
D)70.

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 $4, and the price of good Y is $3. The budget of the consumer is $18. When the consumer purchases the utility-maximizing combination of old product X and new product Y, total utility will be
A)78. 
B)64. 
C)60. 
D)70.

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 $4, and the price of good Y is $3. The budget of the consumer is $18. When the consumer purchases the utility-maximizing combination of old product X and new product Y, total utility will be
A)78. 
B)64. 
C)60. 
D)70.

The Table Shows the Marginal Utility Schedules for Old Product