Home
Class 11
ECONOMICS
Following is the MU schedule for goods X...

Following is the MU schedule for goods X and Y. Both the goods are priced at Rs.1 and money income of an individual is Rs.5. How many units of both commodities should he purchase to maximise his total utility ?

Text Solution

Verified by Experts

The correct Answer is:
He should purchase 4 units of good X and 1 unit of good Y ; Total utility =46 utils
Promotional Banner

Topper's Solved these Questions

  • CONSUMER'S EQUILIBRIUM

    RADHA BHUGANA|Exercise LONG ANSWER|13 Videos

  • CONCEPTS OF REVENUE

    RADHA BHUGANA|Exercise Unsolved numericals|4 Videos

  • ELASTICITY OF DEMAND

    RADHA BHUGANA|Exercise Unsolved Numericals|24 Videos

Similar Questions

Explore conceptually related problems

The MU schedule for goods A and B is given . Price of both the goods is Rs.1 each and income of Mr. Narendra is assumed to be Rs. 6. How many units of both the goods should be purchased by him so that his total utility is maximised ?

Utility schedule of a consumer is given as : If the given commodity is sold for Rs.4 and MU of one rupee is 2 utils, how many units will a consumer purchase to maximise his satisfaction ?

Given below is the utility schedule of a consumer for commodity X. The price of the commodity is Rs.6 per unit. How many untils should the consumer purchase to maximize his satisfaction.Given that 1 util=Rs.1. Given reasons for your answer.

E_(P) of a good is -3 . At a price of Rs. 8 per unit a consumer busy 160 units of the good . How many units of the good will the consumer buy when price falls to Rs. 6 per units ?

E_(P) of a good is -4. When price of this good rises from Rs. 5 to Rs. 6 per unit , a consumer busy 40 units less . How many units did he buy at Rs. 5 ?