Kim has $24 per week in her entertainment budget. She splits her time between going to the movies and yoga classes. Each movie costs $8 while each yoga class costs $3. The total utility from each of these activities is set out in the table below. What is Kim's total utility maximizing point? Movies Total Utility Yoga Classes Total Utility 0 1 2 3 4 S 0 40 75 105 130 160 0 - 2 3 4 5 6 7 8 0 30 55 76 92 106 114 116 117
Kim has $24 per week in her entertainment budget. She splits her time between going to the movies and yoga classes. Each movie costs $8 while each yoga class costs $3. The total utility from each of these activities is set out in the table below. What is Kim's total utility maximizing point? Movies Total Utility Yoga Classes Total Utility 0 1 2 3 4 S 0 40 75 105 130 160 0 - 2 3 4 5 6 7 8 0 30 55 76 92 106 114 116 117
Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 3WNG
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Transcribed Image Text:Kim has $24 per week in her entertainment budget. She splits her time between going
to the movies and yoga classes. Each movie costs $8 while each yoga class costs $3. The
total utility from each of these activities is set out in the table below. What is Kim's total
utility maximizing point?
Movies Total Utility Yoga Classes Total Utility
0
2
3
درا
4
5
0
40
75
105
130
160
0
1
2
3
4
1
6
7
8
Ruona classes
0
30
55
76
92
106
114
116
117
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