For each of the following situations, decide whether the bundle Lakshanl is consider- ing is optimal...

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For each of the following situations, decide whether the bundle Lakshanl is consider- ing is optimal or not if it is not optimal, how could Lakshani mprove her overal level of utility? That is determine which good she should spend more on and which zood should she spend less on. a. Lakshani has $200 to spend on sneakers and sweaters. Sneakers cost ss0 per pair. and swcaters cost S20 each. She ts thinkking about buying 2 pain of sneaken and Ssweaters. She tells her friend that the additional utility she would get frrom the second pair of sneakers is the sa me as the additional utity she would pet rom the i h sweater. b. Lakshani has S5 to spend on pens and pencils. Each pen costs So.so and cach pencil costs So.10. She is thinking about buytng 6 pens and 20 pencils. The last pen woald add ive times as much to her total uatility as the last pencil. c. Lakshani has ss0 per season to spend on tickkets to football ames and tickets to Soccer games. Each football ticket costs S10 and cach soccer ticket costs ss. She Is thinking aboat buyinE 3 football tickets and 2 soccer tickets. Her marginal uti- Ity fron the third football ticket is twice as much as her marginal utility from thhe second soccer ticket For each of the following situations, decide whether the bundle Lakshanl is consider- ing is optimal or not if it is not optimal, how could Lakshani mprove her overal level of utility? That is determine which good she should spend more on and which zood should she spend less on. a. Lakshani has $200 to spend on sneakers and sweaters. Sneakers cost ss0 per pair. and swcaters cost S20 each. She ts thinkking about buying 2 pain of sneaken and Ssweaters. She tells her friend that the additional utility she would get frrom the second pair of sneakers is the sa me as the additional utity she would pet rom the i h sweater. b. Lakshani has S5 to spend on pens and pencils. Each pen costs So.so and cach pencil costs So.10. She is thinking about buytng 6 pens and 20 pencils. The last pen woald add ive times as much to her total uatility as the last pencil. c. Lakshani has ss0 per season to spend on tickkets to football ames and tickets to Soccer games. Each football ticket costs S10 and cach soccer ticket costs ss. She Is thinking aboat buyinE 3 football tickets and 2 soccer tickets. Her marginal uti- Ity fron the third football ticket is twice as much as her marginal utility from thhe second soccer ticket

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a Lakshani is considering a bundle of 2 pairs of sneakers and 5 sweaters So the bundle is affordable ... View the full answer