Assume a hypothetical consumer good X and good Y. the price of good X is 1 and price of good Y is 3 and the consumer budget is birr 10 for the two goods. where: Qx is quantity of good X, Qy is quantity of good Y and TUx and TUy is total Utility from consuming good X and Good Y respectively
Qx. TUx. Qy TUy
0. 0. 0. 0
1. 10 1. 24
2. 19. 2. 45
3. 27 3. 63
4. 34. 4. 78
5. 40. 5. 87
6. 44. 6. 90
A. Determine the quantities of the two goods that the consumer should buy in order to maximize his total utility
