What quantity of each will you purchase to maximize utility

Reference no: EM13189011

You are choosing between two goods, X and Y, and your marginal utility from each is as shown below.

Units of X MUx Units of Y MUy
1 10 1 8
2 8 2 7
3 6 3 6
4 4 4 5
5 3 5 4
6 2 6 3
If your income is $9 and the prices of X and Y are $2 and $1, respectively, what quantities of each will you purchase to maximize utility?

Reference no: EM13189011

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