Lee has calculated her marginal utility from buying pizza slices and soda (shown on the table in the worksheet) and wants to use these data to decide how to rationally spend the money she has. The price of pizza is $2.00 and the price of soda is $2.00 question 9  (a) given these prices and your worksheet calculations, what is the first product lee will buy?  (b) would lee ever buy four slides of pizza? Why/why not?  question 10 Given the data in your worksheet, how many pizza slices and sodas lee should buy to maximize her total utility if she rationally spends her budget of 10.00?  question 11  when the price of pizza changes, lee's MU/$P changes. If the price of pizza decreases to $1.50 and her budget decreases to $7.50, how many pzza slices and sodas lee should buy to maximize her total utility?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Lee has calculated her marginal utility from buying pizza slices and soda (shown on the table in the worksheet) and wants to use these data to decide how to rationally spend the money she has. The price of pizza is $2.00 and the price of soda is $2.00

question 9 

(a) given these prices and your worksheet calculations, what is the first product lee will buy? 
(b) would lee ever buy four slides of pizza? Why/why not? 

question 10
Given the data in your worksheet, how many pizza slices and sodas lee should buy to maximize her total utility if she rationally spends her budget of 10.00? 

question 11 

when the price of pizza changes, lee's MU/$P changes. If the price of pizza decreases to $1.50 and her budget decreases to $7.50, how many pzza slices and sodas lee should buy to maximize her total utility? 

Q8:
Bottle of
Pizza
Slice of
Pizza
Pzza
Soda
Price
Pizza
Price 1
Price 2
Quantity
MU / $P
MU / $ P1
MU / S P2
Marginal
Utility (MU)
Marginal
Utility (MU)
1
10
12
8.
6.
4
-1
-1
Q 9
(a)
(b)
Q 10 Budget:
Pizza
Sodas
Calculate her total utility
Q 11 Budget:
Pizza
Sodas
Calculate her total utility
Transcribed Image Text:Q8: Bottle of Pizza Slice of Pizza Pzza Soda Price Pizza Price 1 Price 2 Quantity MU / $P MU / $ P1 MU / S P2 Marginal Utility (MU) Marginal Utility (MU) 1 10 12 8. 6. 4 -1 -1 Q 9 (a) (b) Q 10 Budget: Pizza Sodas Calculate her total utility Q 11 Budget: Pizza Sodas Calculate her total utility
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