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The Price of wine is 4 The Price of Cheese is 0.49 The Consumer's budget for wine and Cheese is 14.46 GLASSES (WINE) (WINE) (WINE)
The Price of wine is 4 The Price of Cheese is 0.49 The Consumer's budget for wine and Cheese is 14.46 GLASSES (WINE) (WINE) (WINE) WEDGES (CHEESE) (CHEESE) (CHEESE) OF WINE TOTAL UTILITY MARGINAL UTILITY MARGINAL OF CHEESE TOTAL UTILITY MARGINAL UTILITY MARGINAL UTILITY/dollar UTILITY/dollar 70 15 90 22.5 29 59.18 2 160 2 44 65 16.25 11 22.45 3 225 3 55 63 15.75 18.36 9 4 288 4 64 61 15.25 8 16.33 5 349 5 72 The Quantity of Wine this consumer would buy to maximize utility is : 3 The Quantity of Cheese this consumer would buy to maximize utility is : 2 What is the consumer's Total Utility when optimized : 204
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