In: Economics
Each unit of good X costs $2, and each unit of good Y costs $2. The following table contains information on Felix’s utility from goods X and Y.
Units of Good X |
Total Utility of Good X |
Units of Good Y |
Total Utility of Good Y |
---|---|---|---|
(Utils) |
(Utils) |
||
1 | 28 | 1 | 22 |
2 | 54 | 2 | 40 |
3 | 78 | 3 | 52 |
4 | 100 | 4 | 60 |
5 | 120 | 5 |
64 |
Suppose Felix spends a total of $10 on good X and good Y each week.
To maximize his utility, Felix should purchase __________of good X and ____________ of good Y.
Given his budget, the maximum total utility Felix can obtain from the two goods is __________utils.