You have $10 product X cost $1 per unit and product Y cost $2 per unit. Use the table below to determine:

 

1	2		3	4
Quantity of X	Total Utility of X		Quantity of Y	Total Utility of Y
1	10		1	24
2	18		2	44
3	25		3	62
4	31		4	78

(original table)

(over please)

1	2	3	4		5	6	7	8
Quantity of X	Total Utility of X	MUX	MUX/PX		Quantity of Y	Total Utility of Y	MUY	MUY/PY
1	10				1	24
2	18				2	44
3	25				3	62
4	31				4	78

(Revised table)

 

1. (a) how much of each will be bought?                                      
2.  
5.  
6. (b) how much total utility would be received by consuming X and Y?            
7.  
12.  
13. If the rule relating the ratio of marginal utility to prices of two goods at the optimal choice does not hold, why the choice cannot be utility-maximizing?