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QUESTION
Alex has $18 per week in his entertainment budget. He splits his time between going to the movies and renting video games. Each movie costs $6 while...
Alex has $18 per week in his entertainment budget. He splits his time between going to the movies and renting video games. Each movie costs $6 while each video game rental costs $3. The measures total utility of each of his activites is shown in the table below.
Movies 0 1 2 3 4 5
TU 0 40 75 105 130 160
Video Game Rentals 0 1 2 3 4 5 6 7
TU 0 30 55 76 92 106 114 116
- Please make a table of movies and video game using the budget
2. Find utility-mazimizing combination of movies and video games.
