Question 1 (10 pts) The terminator like two things, Leather Jackets and sawed off shotguns. He has just stolen $1000 from no good for nothing punks and has to decide what he will purchase (lfyou are thinking: the terminator would just take the goods and kill the shopkeeper you would be correct... if we were playing trivia). The following table gives the total utility if he was to spend his money on a good. Quantity Purchased Total Utility Leather Jacket Sawed off shotgun How do you interpret this table? If the terminator purchases 1 jacket, he will get 1000 utility, if he purchases anotherjacket, he will have a total of 1850 utility. If he then chooses to purchase a shotgun, he will obtain 1500 utility and the 1850 from the jacket for a total of 3350 utility for having purchased 2 jackets and 1 shotgun. It is important to note that Total utility is not marginal utility it is umy do the conversion. If the price of a leather jacket is $200 and the cost of a sawed off shotgun is 5350 how would the terminator spend his money? In what order? How much utility would he gain? Answer sheet Answer sheet Order of Purchase Good purchased Total Utility Cumulative money spent (jacket or shotgun)