Managerial economics. Consumers.

I. Assume you have a budget of $36 to spend on Pizzas and Hamburgers. Pizzas cost $8 and hamburgers cost $4. Complete the table below and answer the questions that follow Pizza: =58 Hamburgers: =$4 Quantity TU MU MU/P TU MU MU/P 15 24 44 56 40 54 5 42 1. With the prices of pizzas and hamburgers remaining constant, assume that your budget increases to $60. Identify each of the following a. The total utility the consumer will enjoy with this combination 2. With your budget remaining at $60, assume the price of pizzas increases to $16 each. Identify each of the following. The consumer's total utility at this combination b. Find the utility maximizing combination. II. Of the stated consumer preference, ( AGE, INCOME, EDUCATION, GENDER, OCCUPATION, CUSTOMS) what influence your buying behavior? Justify your argument in 5 sentence explanation. Ill. Doyou agree that consumers have rational behaviour? Justify in 5 sentence argument