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Explanation not needed. Only answers if possible. Thank you! Question 1 [18 points] Marc loves to go on Ski trips, Going on a Ski trip

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Explanation not needed. Only answers if possible. Thank you!

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Question 1 [18 points] Marc loves to go on Ski trips, Going on a Ski trip costs Marc a total of $39 per trip Marc also loves to go to Classical concerts Going to a concert oosts Marc a total of $29 per concert Marc must allocate hIS monthly entertainment budget carefully, and has evaluated how much satisfaction, measured in utils' he obtains from each Ski trip and each Classical concert visit. Marc's total utility from each adivity is independent of the amount of the other activity he engages in. Marc has an entertainment budget of $233. Suppose that the price 0! a Classical concert falls to $23 from $29 The income budget remains at $233 Visits past 7 Will not give any extra utility in) Compute Marc's original equilibrium (belore the price change), b) Fill out the table for the new MUIF' for Classical concerts (after the price change) Keep as much precision as possible during your calculations Your nal answer should be accurate to at least two decimal places c) Compute Marc's new equilibrium (aer the price change), New number at Ski In New number of Classical concerts

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