lamc aS CHreeUII me taUle. USe the mUNmatioII givell, tU TIIIISI1 he questions DeIow. 1) The table following provides you total utility (U) and marginal (MU) from consuming Salmon and Lobster. Suppose your total utility of Salmon consumption (U1) is a function of units (Q as pound or lbs.) of salmon consumed, as U1 = 400Q. Similarly, your total utility Lobster (U2) has the form as units (Q as lbs.) of lobster consumed, which is U2 = /36Q + 4- Now fill the empty spots in the table using the information given. Total utility and marginal utility of Salmon and Lobster. Copper River Salmon Atlantic Lobster Q (lbs.) U1 MU1 U2 MU2 1 20.00 20.00 8.72 8.72 4 8. 9. 10 both Salmon and Lobsters. To
lamc aS CHreeUII me taUle. USe the mUNmatioII givell, tU TIIIISI1 he questions DeIow. 1) The table following provides you total utility (U) and marginal (MU) from consuming Salmon and Lobster. Suppose your total utility of Salmon consumption (U1) is a function of units (Q as pound or lbs.) of salmon consumed, as U1 = 400Q. Similarly, your total utility Lobster (U2) has the form as units (Q as lbs.) of lobster consumed, which is U2 = /36Q + 4- Now fill the empty spots in the table using the information given. Total utility and marginal utility of Salmon and Lobster. Copper River Salmon Atlantic Lobster Q (lbs.) U1 MU1 U2 MU2 1 20.00 20.00 8.72 8.72 4 8. 9. 10 both Salmon and Lobsters. To
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Malne as entree ôn the table. Use the infórmation given, to finish the questions below.
1) The table following provides you total utility (U) and marginal (MU) from consuming
Salmon and Lobster. Suppose your total utility of Salmon consumption (U1) is a function of the
units (Q as pound or lbs.) of salmon consumed, as U1 = 400Q. Similarly, your total utility of
Lobster (U2) has the form as units (Q as lbs.) of lobster consumed, which is U2 = /36Q + 40.
Now fill the empty spots in the table using the information given.
Total utility and marginal utility of Salmon and Lobster.
Copper River Salmon
Atlantic Lobster
Q
(lbs.)
U1
MU1
U2
MU2
1
20.00
20.00
8.72
8.72
4
7
8
9.
10
both Salmon and Lobsters. To
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