Reset9 UTILITY CALCULATIONSTOTAL AND MARGINAL UTILITYQuantityConsumedMarginalUtilityTotal UtilityTotalUtility70605022402230182040101435424.8.Quantity Consumed10Marginal Utility464206.107012346.8.-10-20Quantity ConsumedQuantity Consumed2.3.68.1.3. Quantity Consumed10Marginal Utility46420102 3456.-10-20Quantity ConsumedQuantity Consumed15678Instructions: Move the slider at the bottom of the diagram to change the quantity consumed for all the available quantities onutility and marginal utility graphs.a) For the utility function above, if the price of the good is $4, what is the Marginal Utility per Dollar for the fourth unit consume18 utils.b) For the utility function above, if the price of the good is $2, what is the Marginal Utility per Dollar for the second unit consum18 utils.c) Would a rational consumer consume the eighth unit if it was free? No

Marginal utility(MC) is the additional fulfillment/satisfaction a buyer gets from having one more…

a) For the utility function above, if the price of the good is $4, what is the Marginal Utility per Dollar for the fourth unit consL 18 utils. b) For the utility function above, if the price of the good is $2, what is the Marginal Utility per Dollar for the second unit cons 18 utils. c) Would a rational consumer consume the eighth unit if it was free? No

a) For the utility function above, if the price of the good is $4, what is the Marginal Utility per Dollar for the fourth unit consL 18 utils. b) For the utility function above, if the price of the good is $2, what is the Marginal Utility per Dollar for the second unit cons 18 utils. c) Would a rational consumer consume the eighth unit if it was free? No

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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