101 lecture 21 consumer choice
159
Next Exam Exam 6 Thursday December 26 Chapters 18, 19, 20 and 21
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Transcript of 101 lecture 21 consumer choice
Next Exam !
Exam 6 Thursday December 26
!
Chapters 18, 19, 20 and 21
Microeconomics Lecture 21
!
Consumer Choice
Key Terms !
Indifference Curves Budget Constraints Maximizing Marginal Utility per Riyal
What is Utility?
Happiness Satisfaction Pleasure Enjoyment
What is Utility?
Utility is measured in “Utils.” Utils are just for analyzing and comparing. !Utility is subjective Different for everyone and changes all the time. !Utility diminishes at the margin Diminishing marginal utility Goes down as you consume more.
Remember Three Utility Principles
Or
?
Marginal Utility Per Riyal !
Versus
Marginal Utility Per Riyal of Pizza
Marginal Utility Per Riyal of Soda
Pizza Pepsi
Marginal Utility 20 20
Price 5 2
MU/P ÷ 4 10
Pizza Pepsi
Marginal Utility 20 20
Price 5 2
MU/P ÷ 4 10
Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
Production Possibilities
iPhone
iPad
0
10
20
30
40
50
60
70
80
90
100
0 10 20 30 40 50 60 70 80 90 100
Production Possibilities
iPhone
iPad
0
10
20
30
40
50
60
70
80
90
100
0 10 20 30 40 50 60 70 80 90 100
Production Possibilities
iPhone
iPad
Indifference Curve
Indifference Curve
Indifference Curve
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Indifference Curve
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Indifference Curve
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Indifference Curve
Just as happy anywhere on the
curve
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Indifference Curve
Just as happy anywhere on the
curve
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Indifference Curve
Just as happy anywhere on the
curve
Budget Constraint
Budget Constraint
Budget Constraint
2
Budget Constraint
2
Budget Constraint
2
5
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
Still have money
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
Still have money
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
Still have money
Don’t have enough money
Budget Constraint and Indifference Curve
Budget Constraint and Indifference Curve
Budget Constraint and Indifference Curve
2
Budget Constraint and Indifference Curve
2
Budget Constraint and Indifference Curve
2
5
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint and Indifference Curve
2
5
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint and Indifference Curve
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint and Indifference Curve
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint and Indifference Curve
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint and Indifference Curve
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint and Indifference Curve
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint and Indifference Curve
2
5 Budget of 30
Where does the budget constraint curve touch the
highest indifference
curve?
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint and Indifference Curve
2
5 Budget of 30
Where does the budget constraint curve touch the
highest indifference
curve?
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint and Indifference Curve
2
5 Budget of 30
Where does the budget constraint curve touch the
highest indifference
curve?
Slices
1
2
3
4
5
6
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Price
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Price
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Equal Marginal Utility Per Riyal !
MU1 MU2 P1 P2 =
Spending on 1 + Spending on 2 ≤ Budget
Slices
1
2
3
4
5
6
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent:
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent:
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent:
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 2
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 2
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 2
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 4
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 4
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 4
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 6
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 6
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 6
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 11
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 11
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 11
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 16
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 16
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 16
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 18
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 18
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 18
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 23
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 23
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 23
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 25
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 25
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent: 25
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
Budget 30 SAR Spent:
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
30
Budget 30 SAR Spent:
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
30
Budget 30 SAR Spent:
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
30
Budget 30 SAR Spent: Utility Maximized: 105
Slices
1
2
3
4
5
6
Marginal
Utility
20
16
10
6
2
-3
Total
Utility
20
36
46
52
54
51
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
Total
Costs
5
10
15
20
25
30
Cans
1
2
3
4
5
6
Marginal
Utility
20
15
10
5
3
-1
Total
Utility
20
35
45
50
53
52
Per Can
2
Marginal
Utility
Per Riyal
10.0
7.5
5.0
2.5
1.5
-0.5
Total
Costs
2
4
6
8
10
12
30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30 3
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30 3
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30 3
New price will change slope of
curve
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30 3
New price will change slope of
curve
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30 3
New price will change slope of
curve
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent:
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent:
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent:
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 2
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 2
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 2
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 4
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 4
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 4
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 7
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 7
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 7
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 10
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 10
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 10
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 12
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 12
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 12
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 15
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 15
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 15
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 17
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 17
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 17
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 20
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 20
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 20
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 22
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 22
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 22
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 25
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 25
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: 25
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Budget 30 SAR Spent: Utility Maximized: 10725
Price DropsPer Slice Per Can
3 2
Marginal Marginal
Marginal Total Utility Total Marginal Total Utility Total
Slices Utility Utility Per Riyal Costs Cans Utility Utility Per Riyal Costs
1 20 20 6.7 3 1 20 20 10.0 2
2 16 36 5.3 6 2 15 35 7.5 4
3 10 46 3.3 9 3 10 45 5.0 6
4 6 52 2.0 12 4 5 50 2.5 8
5 2 54 0.7 15 5 3 53 1.5 10
6 -3 51 -1.0 18 6 -1 52 -0.5 12
Exam 6 Review Thursday December 26
Chapters 18, 19, 20 and 21 Blog Slides and Questions
25 questions Pencil
Calculator
