"Considering that Salah is tending to buy X and Y, reaching equilibrium may be achieved if." O He consumed the same quantities from X and Y Marginal utility of expenditure for good X equals marginal utility of expenditure for good Y O Marginal utility for good X equals marginal utility for good Y O Total utility for good X equals total utility for good Y

"Considering that Salah is tending to buy X and Y, reaching equilibrium may be achieved if." O He consumed the same quantities from X and Y Marginal utility of expenditure for good X equals marginal utility of expenditure for good Y O Marginal utility for good X equals marginal utility for good Y O Total utility for good X equals total utility for good Y

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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. TOTAL AND MARGINAL UTILITY E UTILITY CALCULATIONS Reset Total Utility Quantity Consumed Total Marginal Utility 70 Utility 60 50 22 40 1 22 30 18 20 2 40 10 14 3 4 6 8 3 54 Quantity Consumed Marginal Utility 10 20 4 64 6. 10 70 4 6. -10 72 -20 -2 Quantity Consumed 70 Quantity Consumed -6 8 64 2. 4 6 8
-uppose John is currently at point A on the indifference curve to the right. If he moves to point B, en A. the level of utility remains constant because the marginal utility of pizza increases and the marginal utility of Pepsi decreases. OB. the level of utility increases because the marginal utility of pizza increases. OC. the level of utility remains constant because the marginal utility of pizza decreases and the marginal utility of Pepsi increases. OD. the level of utility decreases because the marginal utility of Pepsi decreases. Pepsi (bottles per week) B Pizza (slices per week)
MCQ QUESTION! may i ask how did u get the answer?
4. What is the difference between substitution and complementary goods? Give an example for each goods! What will happen to quantity demanded of X if a price of substitutes goods decreased and to quantity demanded of Y if a price of complements goods decreased? Show with graph!
Multiple choice question :
Marginal utility is O a. the extra satisfaction derived from consuming an additional unit of a good. Ob. the total satisfaction derived from consuming an additional unit of a good. O c. the total satisfaction derived from consuming a good. d. the change in total satisfaction as an additional unit of a good is consumed. O e. a and d
The diagram below shows the Total Effect (the sum of Income & Substitution Effects) when the budget line moves from BO to BI, it shows that; Substilie. Effact Toral Effect O a. Price of X increase and X is Giffen good. O b. Price of X decreases and X is normal good. O c. Price of X increase and X is inferior good. Price of X incregse and X is normgl good.
Based on his preferences, Bill is willing to trade 3 movie tickets for 1 ticket to a basketball game. If movie tickets cost $6 each and a ticket to the basketball game costs $16, should Bill trade movie tickets for basketball tickets? Why or why not? Bill should O A. trade movie tickets for basketball tickets because his marginal utility per dollar spent on movie tickets is less than his marginal utility per dollar spent on basketball tickets. O B. trade movie tickets for basketball tickets because his marginal utility per dollar spent on movie tickets is greater than his marginal utility per dollar spent on basketball tickets. O C. trade movie tickets for basketball tickets because his marginal rate of substitution equals the ratio of the price of a basketball ticket to the price of a movie ticket. O D. not trade movie tickets for basketball tickets because his marginal rate of substitution is less than the ratio of the price of a basketball ticket to the price of a movie ticket. O E.…
3.5 Marginal Utility and Consumer Choice Participation Question 7: • A consumer derives utility from consuming integer units of Good X and Good Y. See the table below for a total utility level at different consumption levels. What is the marginal utility of the second unit of Good X when the consumption of Good Y is at 3? Total Utility 1 Good X 2 Good X 3 Good X 1 Good Y 1 8. 2 Good Y 8 10 3 Good Y 10 11 A. 10 В. 5 С. 3 D. 2
The figure to the right represents the demand for ice cream cones. Which of the following statements is true? O A. Points a and b may not necessarily be the utility - maximizing quantities of ice cream cones at two different prices because we have no information on the consumer's budget or the price of other goods. B. Points a and b are the utility - maximizing quantities of ice cream cones at two different prices of ice cream. O C. Points a and b are derived independently of the utility - maximizing model. O D. Point a could be a utility - maximizing choice if the price is $3 but point b may not be because we have no information on the marginal utility per dollar when price changes. Price $3 1 3 4 Demand Quantity
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. Matilda is downloading music and videos from an online site. She is currently buying three music downloads that cost $3 each and two video downloads that also cost $3 each. The table below indicates what she reports as the marginal utility of the last music download and of the last video download in this combination of purchases. Quantity Price per Download MU per download Music downloads 3 $3 60 Video downloads 2 $3 45 As an assignment for her Microeconomics course, Matilda used the marginal utilities that she gave to her 3rd music download and her 2nd video download to complete the Experiment Tally Sheet below. Her available budget was $19.00. Downloads of mu (score) from 1 to 100 Price of each $3.00 Money spent on Downloads of mu (score) from 1 to 100 Price of each $3.00 Money spent on Total Money Total Budget music mu mu/$ music videos mu mu/$ videos Spent Remaining 1st ? ?…