101 lecture 21 consumer choice
TRANSCRIPT
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Next Exam !
Exam 6 Thursday December 26
!
Chapters 18, 19, 20 and 21
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Microeconomics Lecture 21
!
Consumer Choice
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Key Terms !
Indifference Curves Budget Constraints Maximizing Marginal Utility per Riyal
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What is Utility?
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Happiness Satisfaction Pleasure Enjoyment
What is Utility?
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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
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Or
?
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Marginal Utility Per Riyal !
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Versus
Marginal Utility Per Riyal of Pizza
Marginal Utility Per Riyal of Soda
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Pizza Pepsi
Marginal Utility 20 20
Price 5 2
MU/P ÷ 4 10
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Pizza Pepsi
Marginal Utility 20 20
Price 5 2
MU/P ÷ 4 10
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Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
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Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
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Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
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Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
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Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
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Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
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Marginal Utility
-5
0
5
10
15
20
1 2 3 4 5 6
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Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
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Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
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Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
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Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
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Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
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Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
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Total Utility
0
10
20
30
40
50
60
1 2 3 4 5 6
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Production Possibilities
iPhone
iPad
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0
10
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90
100
0 10 20 30 40 50 60 70 80 90 100
Production Possibilities
iPhone
iPad
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0
10
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40
50
60
70
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0 10 20 30 40 50 60 70 80 90 100
Production Possibilities
iPhone
iPad
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Indifference Curve
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Indifference Curve
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Indifference Curve
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0 1 2 3 4 5 6 7 8 9 10
Indifference Curve
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0 1 2 3 4 5 6 7 8 9 10
Indifference Curve
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0 1 2 3 4 5 6 7 8 9 10
Indifference Curve
Just as happy anywhere on the
curve
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0123456789
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0 1 2 3 4 5 6 7 8 9 10
Indifference Curve
Just as happy anywhere on the
curve
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0123456789
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0 1 2 3 4 5 6 7 8 9 10
Indifference Curve
Just as happy anywhere on the
curve
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Budget Constraint
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Budget Constraint
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Budget Constraint
2
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Budget Constraint
2
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Budget Constraint
2
5
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0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5
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0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
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0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
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0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
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0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
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5 Budget of 30
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0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
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0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
Still have money
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0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
Still have money
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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
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Budget Constraint and Indifference Curve
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Budget Constraint and Indifference Curve
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Budget Constraint and Indifference Curve
2
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Budget Constraint and Indifference Curve
2
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Budget Constraint and Indifference Curve
2
5
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Budget Constraint and Indifference Curve
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Budget Constraint and Indifference Curve
2
5 Budget of 30
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Budget Constraint and Indifference Curve
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5 Budget of 30
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Budget Constraint and Indifference Curve
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5 Budget of 30
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Budget Constraint and Indifference Curve
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5 Budget of 30
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Budget Constraint and Indifference Curve
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5 Budget of 30
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Budget Constraint and Indifference Curve
2
5 Budget of 30
Where does the budget constraint curve touch the
highest indifference
curve?
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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?
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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?
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Slices
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Marginal
Utility
20
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10
6
2
-3
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Total
Utility
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54
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Utility
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Price
Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
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Marginal
Utility
20
16
10
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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
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Equal Marginal Utility Per Riyal !
MU1 MU2 P1 P2 =
Spending on 1 + Spending on 2 ≤ Budget
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Marginal
Utility
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Utility
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Total
Utility
20
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52
54
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Utility
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Total
Utility
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Per Slice
5
Marginal
Utility
Per Riyal
4.0
3.2
2.0
1.2
0.4
-0.6
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Marginal
Utility
20
16
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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
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Slices
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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
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Utility
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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
![Page 84: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/84.jpg)
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
![Page 85: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/85.jpg)
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
![Page 86: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/86.jpg)
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
![Page 87: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/87.jpg)
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
![Page 88: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/88.jpg)
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
![Page 89: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/89.jpg)
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
![Page 90: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/90.jpg)
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
![Page 91: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/91.jpg)
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
![Page 92: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/92.jpg)
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
![Page 93: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/93.jpg)
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
![Page 94: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/94.jpg)
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
![Page 95: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/95.jpg)
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
![Page 96: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/96.jpg)
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
![Page 97: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/97.jpg)
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
![Page 98: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/98.jpg)
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
![Page 99: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/99.jpg)
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
![Page 100: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/100.jpg)
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
![Page 101: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/101.jpg)
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
![Page 102: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/102.jpg)
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
![Page 103: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/103.jpg)
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
![Page 104: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/104.jpg)
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
![Page 105: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/105.jpg)
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
![Page 106: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/106.jpg)
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
![Page 107: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/107.jpg)
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
![Page 108: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/108.jpg)
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
![Page 109: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/109.jpg)
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
![Page 110: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/110.jpg)
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
![Page 111: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/111.jpg)
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
![Page 112: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/112.jpg)
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
![Page 113: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/113.jpg)
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
![Page 114: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/114.jpg)
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
![Page 115: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/115.jpg)
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
![Page 116: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/116.jpg)
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
![Page 117: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/117.jpg)
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
![Page 118: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/118.jpg)
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30
![Page 119: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/119.jpg)
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30 3
![Page 120: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/120.jpg)
0123456789
1011121314151617181920
0 1 2 3 4 5 6 7 8 9 10
Budget Constraint
2
5 Budget of 30 3
![Page 121: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/121.jpg)
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
![Page 122: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/122.jpg)
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
![Page 123: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/123.jpg)
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
![Page 124: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/124.jpg)
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
![Page 125: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/125.jpg)
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
![Page 126: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/126.jpg)
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
![Page 127: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/127.jpg)
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
![Page 128: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/128.jpg)
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
![Page 129: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/129.jpg)
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
![Page 130: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/130.jpg)
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
![Page 131: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/131.jpg)
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
![Page 132: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/132.jpg)
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
![Page 133: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/133.jpg)
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
![Page 134: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/134.jpg)
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
![Page 135: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/135.jpg)
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
![Page 136: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/136.jpg)
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
![Page 137: 101 lecture 21 consumer choice](https://reader033.vdocuments.mx/reader033/viewer/2022052205/5563953ed8b42a7c458b4f93/html5/thumbnails/137.jpg)
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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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Exam 6 Review Thursday December 26
Chapters 18, 19, 20 and 21 Blog Slides and Questions
25 questions Pencil
Calculator