How to maximize utility with a budget constraint

Reference no: EM13178859

What combination of the two goods below allows you to maximize your utility with a budget constraint of $14? Show how you arrived at your conclusion in the space provided below. Place your final answers on the lines at the bottom of this page.

PRICE = $0.50 per pint

Bottles of glue Total Utility (Utils)

1 15

2 23

3 30

4 35

5 38

6 40.5

PRICE = $2.00 per box

Bales of hay Total Utility (Utils)

1 10

2 22

3 36

4 52

5 70

6 90

Bottles of glue: _________________________

Bales of hay: ____________________________

Reference no: EM13178859

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