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This topic of Marginal Utility, I can have some help I. Assume you have a budget of $36 to spend on Pizzas and Hamburgers. Pizzas

This topic of Marginal Utility, I can have some help

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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: =$8 Hamburgers: =$4 Quantity TU MU/P TUI MU MU/P 1 16 24 2 28 44 3 36 56 40 64 42 68 1. With the prices of pizzas and hamburgers remaining constant, assume that your budget increases to $60. Identify each of the following Page: 1/7 Section, 1/ Words 164 Spell Check ROFFEEX.Won AaBb AaBbCI ASBbCI. B / U. A. XX A- P AR 68 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. a. 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. Do you agree that consumers have rational behaviour? Justify in 5 sentence argument

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