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1. Based on the table above, calculate the marginal utilities for T-Shirts and Movies. 2. Draw a graph of the quantity and total utility
1. Based on the table above, calculate the marginal utilities for T-Shirts and Movies. 2. Draw a graph of the quantity and total utility for T-Shirts and Movies. 3. Draw a graph of the quantity and marginal utility for T-Shirts and Movies. 4. Suppose T-Shirts cost $5, Movies cost $3, and Henry has $20 dollars to spend. How many T-shirts and Movies will Henry purchase if he is willing to spend $20 and earns zero utility from saving? Please show all your work and explain your answer. Hint: Use the utilities from the table above, and your result from parti. Suppose Henry's Total Utility from consuming T-Shirts and Movies is summarized in the table below: Quantity Total Quantity Total of T- of Utility Shirts Utility Movies 1 22 1 16 2 43 2 31 3 63 3 45 4 81 4 58 5 97 5 70 6 111 6 81 7 123 7 91 Quantity Quantity Total Total of T- of Utility Utility Shirts Movies 1 22 1 16 2 43 2 31 3 63 3 45 4 81 4 58 5 97 5 70 6 111 6 81 7 123 7 91 1
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