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27 November, 22:57

If your income was $40 and the price of pizzas was $5 and the price of videos was $4 , what combination of pizzas and videos would maximize your utility?

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Answers (2)
  1. 27 November, 23:07
    0
    Answer: 4 pizzas and 5 videos

    Step-by-step explanation:

    Income = $40

    Price of pizza = $5

    Price of video = $4

    Let pizza be represented as p

    Let video be represented as v

    5p + 4v = 40

    Solving further, the amount of pizza and video that will maximize utility are 4 and 5 respectively.
  2. 27 November, 23:51
    0
    4 pizza and 4 videos

    Step-by-step explanation:

    let p represent the number of pizza

    let v represent the number of videos

    Total income = $40

    Price of pizza = $5

    Price of video = $4

    Price of pizza and video = $5 + $4

    = $9

    Total amount spent on pizza = (5/9) * 40

    = 200/9 = $22.22

    Total number of pizza bought = 22.22/5 = 4.4

    = 4 pizza (approximately)

    Total amount spent on video = (4/9) * 40 = 160/9

    = 17.77

    Total number of videos = 17.77/4 = 4.44 = 4 videos (approximately)
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