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You have to decide whether or not it is worth your time to go on a date or to hang out with your friends. Either decision will increase your total utility, but you are constrained by your total income of $160.00. Here is a table of your current situation:

Cost of Date: $50

Cost of Hanging Out with Friends: $30

Date Total Utility Hanging Out with Friends Total Utility

0 0 0 0

1 110 1 110

2 265 2 203

3 394 3 288

4 421 4 352

5 440 5 400

Find consumer optimum. at what point should you go on the date? At what point should you hang out with your friends? Roughly at what point does going on a date equal hanging out with your friends?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91855887

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