Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $18. What level of total utility does the rational consumer realize in equilibrium?
A) 87 utils
B) 104 utils
C) 51 utils
D) 58 utils

Question

Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $18.  What level of total utility does the rational consumer realize in equilibrium?
A) 87 utils 
B) 104 utils 
C) 51 utils 
D) 58 utils

Quizplus · Accepted Answer

The Answer of Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $18.  What level of total utility does the rational consumer realize in equilibrium?
A) 87 utils 
B) 104 utils 
C) 51 utils 
D) 58 utils

Answer the Question on the Basis of the Following Total