The table shows the marginal utility schedules for old product X and new product Y for a hypothetical consumer. The price of X is $2, and the price of good Y is $1. The budget of the consumer is $10. When the consumer purchases the utility-maximizing combination of old product X and new product Y, total utility will be
A)62.
B)78.
C)70.
D)82.

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 $2, and the price of good Y is $1. The budget of the consumer is $10. When the consumer purchases the utility-maximizing combination of old product X and new product Y, total utility will be
A)62. 
B)78. 
C)70. 
D)82.

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 $2, and the price of good Y is $1. The budget of the consumer is $10. When the consumer purchases the utility-maximizing combination of old product X and new product Y, total utility will be
A)62. 
B)78. 
C)70. 
D)82.

The Table Shows the Marginal Utility Schedules for Old Product