Multiple Choice
The table shows the marginal utility schedules for old product X and new product Y for a hypothetical consumer. The price of X is $2, and the price of good Y is $1. The budget of the consumer is $10. What is the increase in total utility from the original situation when purchasing just X, compared to now when the consumer purchases the utility-maximizing combination of both X and Y?
A) 10
B) 18
C) 60
D) 78
Correct Answer:
Verified
Correct Answer:
Verified
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