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After reviewing the study material for this module, answer the following exercise. What is intended is that you can demonstrate with your answers the knowledge you have of the theory of consumption and utility.
The following table presents Carlos's total utility related to lunches and glasses of wine.
Cantidad a la semana
Utilidad por almorzar
Utilidad por copa de vino
0
1
65
55
2
105
103
3
137
139
4
165
163
5
191
185
6
215
205
7
237
218
8
257
228
9
274
235
10
290
240
a.) Identify the quantities of lunches and glasses of wine that Carlos should be able to buy with his $40.00 and how much would be the maximum total utility that he achieves per week.
b.) If the price of each lunch is $4.00 and the price of each glass of wine is $4.00, identify the quantities of lunches and glasses of wine that Carlos should be able to buy with his $40.00 and what his maximum total utility would be. a week.
c.) Name two points on Carlos's lunch demand curve.
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