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Q1) In the ex below, we have $7 to spend on ice cream cones and Big Macs. Choice is between ice cream at $1 a cone and Big Macs at $2 apiece. Based on MU/P columns for Big Macs and Ice Cream, determine the utility-maximizing combination if we have $9 to spend? According TU columns, how many total utils are received?

Big Macs (P = $2)
Ice Cream (P = $1)

Q
TU
MU
MU/P
Q
TU
MU
MU/P
0
0
20
10
0
0
29
29
1
20
14
7
1
29
17
17
2
34
10
5
2
46
7
7
3
44
3
1.5
3
53
2
2
4
47
0
0
4
55
1
1
5
47
-5
-2.5
5
56
0
0
6
42
-10
-5
6
56
-4
-4
7
32
    7
52
   

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M922683

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