Question
help! Carlos has $ 40.00 to spend a week on lunches and glasses of wine. The price of each lunch is $ 8.00 and the
help!
Carlos has $ 40.00 to spend a week on lunches and glasses of wine. The price of each lunch is $ 8.00 and the price of each glass of wine is $ 4.00.
The following table presents Carlos's total utility related to lunches and glasses of wine.
Amount per week Utility per lunch Amount per week Utility per glass of wine
0 0 0 0
1 65 1 55
2 105 2 103
3 137 3 139
4 165 4 163
5 191 5 185
6 215 6 205
7 237 7 218
8 257 8 228
9 274 9 235
10290 10 240
Identify the marginal utility and marginal utility per dollar when Carlos buys 5 lunches a week.
Identify the marginal utility and marginal utility per dollar when Carlos buys 7 glasses of wine a week.
Identify the quantities of lunches and glasses of wine that Carlos should be able to buy with his $ 40.00 and how much would be his maximum total profit that he achieves per week.
If the price of each lunch is $ 4.00 and the price of each glass of wine is $ 4.00, identify the quantities of lunches and glasses of wine that Carlos should be able to buy with his $ 40.00 and how much would be his maximum total profit that he achieves per week .
Name two points on Carlos' demand curve for lunches.
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