Calculate and plot both marginal utility and total utility

Reference no: EM132467119

Question 1: Calculate and plot both the marginal utility and the total utility on the same graph with the utility on the vertical axis and quantity on the horizontal axis.

Question 2: Assume the price of Good A is $2 and the price of Good B is $1 with an income of $12. Using the utility-maximizing rule that the marginal utility per dollar for each good must be equal, identify the bundle of goods that will maximize this person's utility given that all her income is spent.

Reference no: EM132467119

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