measurement for utility If George spends $5 (total) a week on good X and good Y, and if the price of

measurement for utility

If George spends $5 (total) a week on good X and good Y, and
if the price of each good is $1 per unit, then how many units of each good does
he purchase to maximize utility?

To maximize the utility, George has to spend all his money
buying one type of good Either he buys 5 units of good X or 5 units of good Y

Question (answer this question by using the information
provided above)

Given the number of units of each good George purchased in
the above summary, what is his total utility?

 

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