Question: Answer the question based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price

Answer the question based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4, and the price of product Y is $2. The income of the consumer is $20.

Product X Product Y

Quantity MUX Quantity MUY

1 32 1 24

2 28 2 20

3 24 3 16

4 20 4 12

5 16 5 8

When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be

Multiple Choice

  • 72.
  • 84.
  • 136.
  • 156.

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