Given the following table, fill in the blank below. Units Total Utility Pizzas 50 90 1 2 3 4 5 Price of Pizza - $5 6 7 120 140 150 155 155 MU/S Pizzas 10 8 6 Now your income is still $40 but the price of videos increased from $4 to $5. OA. 4 of each OB. 4 pizzas and 5 videos. C. 6 pizzas and 2.5 videos. OD. 5 pizzas and 4 videos. 4 2 1 0 Total Utility Videos 30 58 82 102 118 130 138 Price of Video $4 MU/S Videos 7.5 7 6543L Price of Video $5 MU/S Videos 6 5.6 4.8 4 3.2 2.4 1.6 2 f your income was $40 and the price of pizzas was $5 and the price of videos was $4, what combination of pizzas and videos would maximize your utility? OA. 4 pizzas and 5 videos. OB. 3 of each. OC. 4 pizzas and 2 videos. D. 5 pizzas and 4 videos.

Given the following table, fill in the blank below. Units Total Utility Pizzas 50 90 1 2 3 4 5 Price of Pizza - $5 6 7 120 140 150 155 155 MU/S Pizzas 10 8 6 Now your income is still $40 but the price of videos increased from $4 to $5. OA. 4 of each OB. 4 pizzas and 5 videos. C. 6 pizzas and 2.5 videos. OD. 5 pizzas and 4 videos. 4 2 1 0 Total Utility Videos 30 58 82 102 118 130 138 Price of Video $4 MU/S Videos 7.5 7 6543L Price of Video $5 MU/S Videos 6 5.6 4.8 4 3.2 2.4 1.6 2 f your income was $40 and the price of pizzas was $5 and the price of videos was $4, what combination of pizzas and videos would maximize your utility? OA. 4 pizzas and 5 videos. OB. 3 of each. OC. 4 pizzas and 2 videos. D. 5 pizzas and 4 videos.

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 utility is maximized in the consumption oftwo goods by equating thea. prices of both goods for the last dollar spenton each good.b. marginal utilities of both goods for the lastdollar spent on each good.c. ratios of marginal utility to the price of bothgoods for the last dollar spent on each good.d. marginal utility of one good to the price ofthe other good.
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31. Every day Noora spends her lunch money consuming apples, at RODeach, and oranges, at RO2 cach. At her current level of consumption, Noora's marginal utility of apples is 12 and her marginal utility of oranges is If she has already spent all of her lunch molfey, how should Noora change her consumption decision to maximize utility? a. She should make no changes; she is consuming the utility maximizing combination of apples and oranges. b.) She should increase her apple consumption and decrease her orange consumption until the marginal utility per dollar is equal for both. c. She should decrease her apple consumption and increase her orange consumption until the marginal utility per dollar is equal for both. d. She should increase her apple consumption and increase her orange consumption until the marginal utility is egual for both.
Complete this table on the picture.
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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 ? ?…
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