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The table shows Jim's utility for bagels and apple cider. quantity MU bagel MU cider 1 20 22 2 10 16 3 9 12 4
The table shows Jim's utility for bagels and apple cider.
quantity MU bagel MU cider
1 20 22
2 10 16
3 9 12
4 6 8
5 4 4
1. Which product does Jim prefer more?Why?
2.Fill in the empty columns immediately next to the MU bagels and MU cider.
3.If Jim has a budget of $20, the price of bagels is $2 and cider is $4, what will be his optimal purchase?
_______ number of bagels and ___________ number of ciders
4.What is his 4th pick?And Why?
5.what is Jim's total utility?________ utils.
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