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d you have left over to buy an apple. Or something healthy. ost the right answers on the discussions page.) “Midterm Answers - For Students to post th swers to Question in Question 4." not mix the concept of profit into this answer. Profit strictly means total revenue less total o e all inputs used. It is a concept applied to firms and production only. It is not applied to consum

d you have left over to buy an apple. Or something healthy. ost the right answers on the discussions page.) “Midterm Answers - For Students to post th swers to Question in Question 4." not mix the concept of profit into this answer. Profit strictly means total revenue less total o e all inputs used. It is a concept applied to firms and production only. It is not applied to consum

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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But if MU of milkshake is 6 and MU of fries is 5 and price of milkshake is $4 and price of fries is $4 then if you buy a shake and fries your total utility is And you have left over to buy an apple. Or something healthy. (Post the right answers on the discussions page.) “Midterm Answers - For Students to post their answers to Question in Question ." 7 Do not mix the concept of profit into this answer. Profit strictly means total revenue less total op cost of all inputs used. It is a concept applied to firms and production only. It is not applied to consumers.
Transcribed Image Text:But if MU of milkshake is 6 and MU of fries is 5 and price of milkshake is $4 and price of fries is $4 then if you buy a shake and fries your total utility is And you have left over to buy an apple. Or something healthy. (Post the right answers on the discussions page.) “Midterm Answers - For Students to post their answers to Question in Question ." 7 Do not mix the concept of profit into this answer. Profit strictly means total revenue less total op cost of all inputs used. It is a concept applied to firms and production only. It is not applied to consumers.
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