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April 18, 2014

April 18, 2014

Posted by **Krissy** on Sunday, February 24, 2008 at 12:14pm.

Suppose you are given the following information about the choices that Bill makes over a three-week period:

x1 x2 P1 P2 I

week 1 10 20 2 1 40

week 2 7 19 3 1 40

week 3 8 31 3 1 55

Did Bills utility increase or decrease between week one and week 2? Between week 1 and week 3? Explain using a graph to support your answer.

- economics -
**economyst**, Monday, February 25, 2008 at 9:20amWithout a doubt, between week-1 and week-2, Bill's utility went down. He consumes less of everything (both x1 and x2 go down).

Without a doubt, between week-2 and week-3, Bill's utility went up. He consumes more of everything.

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