Summary: Household Behavior and Consumer Choice A GA 2.3 For this problem, assume that Kendrick has $144 to spend on cigars and brandy each month and that both goods must be purchased whole (no fractional units). Cigars cost $6 each, and brandy costs $30 per bottle. Kendrick's preferences for cigars and brandy are summarized by the following information: O iii Cigars Brandy No. per Month TU MU MLS Bottles per Month MU MUS 150 2 46 2 270 3 360 74 4 420 80 150 170 7 480 a. Fill in the figures for marginal utility and marginal utility per dollar for both Hide b. Are these preferences consistent with the law of diminishing marginalSummary: Household Behavior ... W GA a. Fill in the figures for marginal utility and marginal utility per iii dollar for both cigars and brandy. b. Are these preferences consistent (0> with the law of diminishing Q marginal utility? Explain briefly. c. Given the budget of $144, what quantity of cigars and what quantity of brandy will maximize Kendrick's level of satisfaction? Explain briefly. d. Now suppose the price of cigars rises to $8. Which of the columns AA in the table must be recalculated? Do the required recalculations. e. After the price change, how many Hide brandy will Kendrick purchase