Question

Refer to the following table for a different consumer, and assume that each week this consumer buys only weckly subscriptions to ceonomic statistics apps and subscriptions to office productivity apps. The price of a subscription to each type of economic statistics app is $\backslash (2$per week, and the price of a subscription to each office productivity app is $\backslash )60$per week. If the consumer's available income is $\$128$per week, what quantity of each item will the individual purchase each week at a consumer optimum?

Short answer

As a result, the student will pay $\$8$ for four units of economics statistics apps and $\$120$ for two units of office productivity apps.

Step-by-step solution

     Introduction

The total utility of a commodity is the sum of the utility gained by a person from consuming all of the commodity's units.

    Explanation

There are two apps available. One is an Economics Statistics app subscription, while the other is an Office Productivity app subscription. The cost of a year's membership to the Economics Statistics app is $\$2$. The cost of a year's membership to the office productivity app is $\$60$. The individual's annual income is $\$128$ dollars.

    Productivity app and their prices

The following table lists the number of subscriptions for the Economics Statistics app and the costs for the Office Productivity app:

     Individuals spent  

The individual will purchase four units of subscription to economics statistics applications, totaling $86$utils, and two units of subscription to office productivity apps, totaling $700$ utils. Individuals spent $\$128$ on three subscriptions to economics statistics apps and two subscriptions to office productivity applications.

    Result

As a result, the student will pay $\$8$for four units of economics statistics apps and $\$120$for two units of office productivity apps.