Question
Quantity of Good X (units) Marginal Utility (Good X) Quantity of Good Y (units) Marginal utility...
| Quantity of Good X (units) | Marginal Utility (Good X) | Quantity of Good Y (units) | Marginal utility (Y) |
| 1 | 22 | 1 | 16 |
| 2 | 21 | 2 | 15 |
| 3 | 20 | 3 | 14 |
| 4 | 18 | 4 | 13 |
| 5 | 16 | 5 | 12 |
| 6 | 14 | 6 | 11 |
| 7 | 12 | 7 | 10 |
Consider an individual who is deciding on how much of good X and good Y to buy in order maximize her utility. The individual has $56 to spend on the two goods and the price of X is $14 per unit and the price of good Y is $7 per unit. How many units of good X will this individual buy?
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Given the following marginal utility schedule for good X and good Y for an individual A,...
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