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ECO 535 Wk 3 - Practice: Money and Monetary Policy Quantity
MUx
Quantity
MUy
1
16
1
12
2
14
2
10
3
12
3
8
4
10
4
6
5
8
5
4
The table shows the marginal utility schedules for old product X and new product Y for a hypothetical consumer. The price of X is $2, and the price of good Y is $1. The budget of the consumer is $10. If the consumer can only buy old product X, how much will the consumer buy and what will be the total utility from spending the given budget? Multiple Choice
4X and 52
4X and 10
5X and 8
5X and 60