Un X EC 203 - McGill - 12 SP2021 X MindTap - Cengage Learning X w/ apa citation for website with no x / apa citation for website - Yahoo x e.com/staticb/ui/evo/index.html?deploymentld=5832652488867819951022196558&elSBN=97813379144138snapshotid=2179258&id=1049597864& be Maps CENGAGE |MINDTAP Aplia Homework: Consumer Choice and Demand 4. Deriving demand from a marginal utility table with two goods Alyssa has a $10 snack budget that she uses to buy chips and granola. Assume the price of chips (Pc) is fixed at $2. Table A shows Alyssa's marginal utility (MU) and marginal utility per dollar ( p) she receives from the first through fifth bags of chips she buys each week. Table B shows the same information for granola when the price of a bag of granola (PG ) is either $4 or $2. Assume that Alyssa is a rational consumer who wants to maximize her utility. Table A Chips MU MU/P (Bags) (Utils) (If P=$2) 0 1 18 2 16 3 12 6 4 6 3 5 2Aplia Homework: Consumer Choice and Demand Table B Granola MU MU/P (Bags) (Utils) (If P=$4) (IFP=$2) 0 1 24 12 20 UT 2 10 3 16 8 4 8 2 4 N 5 4 If the price of a bag of granola is $4, the price of a bag of chips is $2, and Alyssa spends her entire budget of $10, she will choose to buy of chips and of granola. of chips and Now, suppose that granola goes on sale, and its price decreases to $2. Alyssa's utility is now maximized if she buys of granola. Suppose the price of chips is fixed at $2, and Alyssa's budget is fixed at $10. On the graph, use the blue line (circle symbols) to plot Alyssa's demand for granola. Do this by placing one blue point (circle symbol) on Alyssa's demand for granola when the price is $4 and the second blue point on Alyssa's demand for granola when the price is $2.CENGAGE | MINDTAP Aplia Homework: Consumer Choice and Demand Suppose the price of chips is fixed at $2, and Alyssa's budget is fixed at $10. On the graph, use the blue line (circle symbols) to plot Alyssa's demand for granola. Do this by placing one blue point (circle symbol) on Alyssa's demand for granola when the price is $4 and the second blue point on Alyssa's demand for granola when the price is $2. O- Alyssa's Demand PRICE (Dollars per bag) 2 5 6 2 3 QUANTITY (Bags of granola)