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1. Assume that Joe has P2,000.00 to spend on video games and steak dinners each month and that both goods must be purchased whole (no

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1. Assume that Joe has P2,000.00 to spend on video games and steak dinners each month and that both goods must be purchased whole (no fractional units). Video games cost P200.00 each, and steak dinners cost P400.00 each. Joe's preferences for video games and steak dinners are summarized by the following information. Number Total Marginal Price MU/ Total Marginal Price MU/P per Month Utility for Utility P Utility for Utility Video (X) Steak (Y) Games Dinners (X) (Y) 500 200.0 700 400.00 0 2 900 200.0 1,380 400.00 0 3 1,200 200.0 1,780 400.00 0 4 1,400 200.0 2,100 400.00 0 5 1,500 200.0 2,340 400.00 0 a. Complete the table. b. What equation describes Joe's budget constraint? C. Given the budget of P2,000.00, what quantity of video games and what quantity of steak dinners will maximize Joe's level of satisfaction

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