4. If a samosa costs Rs. 8, coke costs Rs. 16 and the student has a weekly pocket money of Rs. 80, apply the law of equi-marginal utility to calculate the number of samosas and cokes the student should consume to maximise his satisfaction keeping in mind the utility figures in the below table. Table Qty of Marginal Qty of Utility of Samosa Total Total Marginal Samosas Cokes Utility of Samosas Utility of Cokes Utility of coke 1 80 1 144 144 248 3 192 312 224 4 360 240 384
4. If a samosa costs Rs. 8, coke costs Rs. 16 and the student has a weekly pocket money of Rs. 80, apply the law of equi-marginal utility to calculate the number of samosas and cokes the student should consume to maximise his satisfaction keeping in mind the utility figures in the below table. Table Qty of Marginal Qty of Utility of Samosa Total Total Marginal Samosas Cokes Utility of Samosas Utility of Cokes Utility of coke 1 80 1 144 144 248 3 192 312 224 4 360 240 384
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 8SQP
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