Question: 8. Using the data below and your knowledge from Mr. Clifford's video, answer the questions that follow this chart showing the marginal utility for goods

 8. Using the data below and your knowledge from Mr. Clifford's

8. Using the data below and your knowledge from Mr. Clifford's video, answer the questions that follow this chart showing the marginal utility for goods A and B. Quanti Good A $ 4 Good B $1 ty Marginal Marginal Utility Utility 1 24 12 2 16 8 12 6 4 8 4 5 1 3 6 2 2 If a consumer has $12 to spend, and the Price of Good A is $4 and the Price of Good B is $1? a. State the utility maximizing rule. b. Set up the new columns in the chart and then determine how many units of Good A and how many units of Good B will the consumer buy? (2 points each column)

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