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Becky needs to decide how many cups of coffee and pieces of cake she will buy for a meeting with an office mate. She estimates
Becky needs to decide how many cups of coffee and pieces of cake she will buy for a meeting with an office mate. She estimates her total utility for different quantities of coffee and cakes below. A cup of coffee is $3.00, and each piece of cake is $1.50. Becky has a total of $9 to spend. What is Becky's total utilityr if she buys 2 cups of coffee and 2 pieces of cake? Utility from Consumption Coffee Cups of Coffee Cake Pieces of Cake - - Total Utility of Different Consumption Bundles Consumption Bundle Cups of Coffee _Total Utility __- __- _-- \"__- Provide your answer below: \\:I utils Suppose there are only two companies that make a product: Company X and Company Y. Now suppose that both companies have to choose one of two potential strategies for pricing this product: setting a low price or setting a high price. The table below shows the expected prots for each company under each pricing scenario. Assume both companies are in competition with each other and seek to maximize their profits. Under these conditions. how much prot should we expect each company to earn? High Price Low Price CompanyY Prot for Company '1': $940,000 Prot for Company Y: $368,000 Low Price Prot for Company X1$123,000 Prot for Company X: $368,000 Provide your answer below: Company X Prot = $|:l: Company Y Prot = $|:|
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