2) Assume the table below represents the marginal utility an average individual in TRNC can get from eating dinner at ho

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2 Assume The Table Below Represents The Marginal Utility An Average Individual In Trnc Can Get From Eating Dinner At Ho 1 (37.08 KiB) Viewed 93 times

2) Assume the table below represents the marginal utility an average individual in TRNC can get from eating dinner at home and at a restaurant. Answer the questions accordingly. Price 1 Meal at Home 1000 875 Meal at Restaurant 2000 1750 1500 2 3 750 4 625 1250 5 500 1000 6 375 750 7 250 500 a) Choose two bundles, each one with at least one mean at home and one meal at a restaurant Calculate the utility average individual gets from these bundles. b) Assume a meal in restaurant costs 500 TL while, a meal at home costs 300 TL. Calculate the costs of the bundles you have created in section a. c) Find out and compare MU/p for meal at home and meal at restaurant for each bundle and compare them.