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Calculate the level of total utility

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Answer the question on the basis of the following two schedules, which show the amounts of additional satisfaction (marginal utility) that a consumer would get from successive quantities of products J and K.

Units of J

MUj

Units of K

MUk

1

56

1

32

2

48

2

28

3

32

3

24

4

24

4

20

5

20

5

12

6

16

6

10

7

12

7

8

What level of total utility is realized from the equilibrium combination of J and K, if the consumer has a money income of $36 and the prices of J and K are $4 and $4, respectively?

Reference no: EM133044096

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