2. Fill in the following table, graph marginal and total utility of cookies and the total and marginal utility of cupcak

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2 Fill In The Following Table Graph Marginal And Total Utility Of Cookies And The Total And Marginal Utility Of Cupcak 1 (101.05 KiB) Viewed 11 times

2. Fill in the following table, graph marginal and total utility of cookies and the total and marginal utility of cupcakes and answer the following questions: Table 1: Consumer maximization Quantity Of Total Utility Of cupcakes Marginal Utility of cupcakes Number of slices of cookies Total utility of cookies Marginal utility of cookies cupcakes 0 0 0 0 1 9 1 20 2 17 2 36 3 24 3 48 4 6 4 8 5 5 5 4 6 4 6 0 a. If you have a budget of $6 and the cookies cost $ 2 and cupcakes cost $1 each, what is the consumer optimum? b. What if your budget increases to $11, what is your consumer optimum? C. Do you think consumers actually act in this way when determining how to choose between goods? Why or why not? Explain.