Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Kristin wants to buy kids toys and dog toys. The following table shows the total utility she will derive from each good at the different
Kristin wants to buy kids toys and dog toys. The following table shows the total utility she will derive from each good at the different quantities she can afford.
Which would be her optimal bundle?
Just enter the letter of the bundle.
Bundle | Q (Dog toys) | TU (Dog toys) | Q (Kids toys) | TU (Kids toys) |
A | 0 | 0 | 40 | 1200 |
B | 1 | 249 | 36 | 1224 |
C | 2 | 496 | 32 | 1216 |
D | 3 | 741 | 28 | 1176 |
E | 4 | 984 | 24 | 1104 |
F | 5 | 1225 | 20 | 1000 |
G | 6 | 1464 | 16 | 864 |
H | 7 | 1701 | 12 | 696 |
I | 8 | 1936 | 8 | 496 |
J | 9 | 2169 | 4 | 264 |
K | 10 | 2400 | 0 | 0 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started