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. The total utility of 3 units of good X is 22 and the total utility of 5 units of good X is 28. The marginal utility of the 5th unit of good X is equal to A) 6 B) 50 C) 22 D) 0 E) none of the above Becky's income increases from $2,000 per week to $2,400 per week. As a result, Becky decides to increase her demand for good x by 25 percent. Please fill in the blanks: We can conclude that good x is a(n) good and that Becky's demand for good x is Select one: a. normal; income elastic. b. inferior; price inelastic. C. basic; income elastic.

. The total utility of 3 units of good X is 22 and the total utility of 5 units of good X is 28. The marginal utility of the 5th unit of good X is equal to A) 6 B) 50 C) 22 D) 0 E) none of the above Becky's income increases from $2,000 per week to $2,400 per week. As a result, Becky decides to increase her demand for good x by 25 percent. Please fill in the blanks: We can conclude that good x is a(n) good and that Becky's demand for good x is Select one: a. normal; income elastic. b. inferior; price inelastic. C. basic; income elastic.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The total utility of 3 units of good X is 22 and the total utility of 5 units of good X is 28. The marginal utility of the 5th unit of good X is equal to A) 6 B) 50 C) 22 D) O E) none of the above Becky's income increases from $2,000 per week to $2,400 per week. As a result, Becky decides to increase her demand for good x by 25 percent. Please fill in the blanks: We can conclude that good x is a(n) good and that Becky's demand for good x is Select one: a. normal; income elastic. b. inferior; price inelastic. C. basic; income elastic. d. luxury; income inelastic. e. none of the above.
Transcribed Image Text:The total utility of 3 units of good X is 22 and the total utility of 5 units of good X is 28. The marginal utility of the 5th unit of good X is equal to A) 6 B) 50 C) 22 D) O E) none of the above Becky's income increases from $2,000 per week to $2,400 per week. As a result, Becky decides to increase her demand for good x by 25 percent. Please fill in the blanks: We can conclude that good x is a(n) good and that Becky's demand for good x is Select one: a. normal; income elastic. b. inferior; price inelastic. C. basic; income elastic. d. luxury; income inelastic. e. none of the above.
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