micro

Project Description:

uses the marginal utility approach in figure 5 we assumedthat when max's income rose,his marginal utility values for any given number of movies or concerts remained the same. but now suppose that when max;s income rises;and he can consume more movies and concerts an additional movie has less value to max's marginal utility values are as in the below table. fill in the blanks for the missing values and find max's utility maximizing combination of concerts and movies . in figure 5 in the chapter, at what point does max end up?
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