Q1. You have Rs.10. The price of samosa is Rs.1 per unit. The price of a steak sandwich is Rs.3

The utility received from consuming samosa and steak is given below.

a.How many samosas and steak sandwiches should be bought to maximize utility?

b.Calculate utility maximizing quantities of samosas and steak sandwiches when income equals Rs.10 and the price of beer is Rs.1 and the price of steak sandwiches is Rs.3 using the utility maximizing rule

No. of samosas

TU of samosa

MU of samosa

No. of steaks

TU of steaks

MU of steaks

0

0

0

0

1

15

1

24

2

24

2

45

3

32

3

63

4

39

4

75

5

45

5

84

6

47

6

87