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Bill obtains utility from consuming strawberries and yogurt, and has S8 to spend on them. One box of strawberries costs S2, and a jar of
Bill obtains utility from consuming strawberries and yogurt, and has S8 to spend on them. One box of strawberries costs S2, and a jar of yogurt costs S1. The table below shows the total utility Bill derives from consuming strawberries and yogurt at different levels of consumption. Table 1 Boxes of strawberries Jars of vogurt Units Total utilityMarginalMarginal Total utilityMarginalMarginal utility fromutility per from yogurtutility fromutility per the last jar dollar spent on yogurt purchased strawberries the last box dollar spent on strawberries 10 26 50 72 90 16 28 38 a) In the table, fill in the marginal utility and the marginal utility per dollar for each level of consumption. b) State the two conditions which have to be satisfied in order for Bill to be maximizing his utility, given his budget constraint. c) What is the optimal number of boxes of strawberries and jars of yogurt Bill can consume? Explain why
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