Question: Please answer Type the answers, avoid handwritten. situations, determine the combination of goods that wiil allow the consumer to maximize his utility. the costs of

 Please answer Type the answers, avoid handwritten. situations, determine the combination

Please answer

of goods that wiil allow the consumer to maximize his utility. the

Type the answers, avoid handwritten. situations, determine the combination of goods that wiil allow the consumer to maximize his utility. the costs of each combination, and the corresponding budget lines. Write your answers on another sheet of paper. Marvin is a utility maximizer. After his living expenses, his income is P2300, which he can use to buy a new book or movie tickets. A new book costs P250, while movie tickets costs P150. - Situation 1: Marvin chooses to spend his budget on two (2) goods, new books, and movie tickets. Assuming that he DOESNOT to want to spend all his budget on only one (1) good, give two (2) combinations of goods that he can choose from. Situation 2: Marvin notices that the prices of movie tickets drop to P125. Prices of new books and budget remain the same. Give two (2) possible combinations of goods, assuming that he prefers to buy more new books than movie tickets. ( 0 Combinations and costs Situation 3: His budget becomes P1200. Prices of goods are the same in Situation 1. Give the combination of goods that he can still buy with his reduced budget

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