Marginal Utility 65432 6 7 Qx 2 3 4 5 -2 Refer to the diagram. The total utility yielded by 3 unit(s) of X is Multiple Choice 15. 18. O 4. 10.
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- If at a quantity consumed of 1 unit, total utility equals 25 and marginal utility equals 25, and at a quantity consumed of 2 units, total utility is unknown and marginal utility is 20, and at a quantity consumed of 3 units, total utility is 57 and marginal utility is unknown, what is marginal utility of the third unit?todd is a cattle rancher in june and july he spent his clothing budget on jeans and cowboy hats. each pair of jeans cost $56 and each hat cost $41. At Todd's optimal choice, his marginal utility from the last pair of jeans purchased is 592. This means that his marginal utility from the last cowboy hat purchased is: Round the final answer to the whole numberJohn likes Coca-Cola. After consuming one Coke, John has a total utility of 10 utils. After two Cokes, he has a total utility of 25 utils. After three Cokes, he has a total utility of 50 utils. Does John show diminishing marginal utility for Coke or does he show increasing marginal utility for Coke? Suppose that John has $3 in his pocket. If Cokes cost $1 each and John is willing to spend one of his dollars on purchasing a first can of Coke, would he spend his second dollar on a Coke, too? What about the third dollar? If John’s marginal utility for Coke keeps on increasing no matter how many Cokes he drinks, would it be fair to say that he is addicted to Coke? *use tables and/or graphs if possible, please original work
- Quarts of ice cream Total utility from ice cream 0 0 1 80 2 150 3 210 4 260 From the information in the above table, what is the marginal utility of the third quart of ice cream? A) 80 B) 70 C) 60 D) 230 Pizza Pepsi Slices per week Total utility Quantity per week Total utility 0 0 0 0 1 100 1 70 2 150 2 130 3 175 3 180 4 190 4 220 5 195 5 250 The table shows Elaine's utility from pizza and Pepsi. If Elaine consumes 2 slices of pizza and 3 Pepsis, her marginal utility from the fourth Pepsi is ________ units. A) 60 B) 54 C) 40 D) 220 Fritos Fruit drinks Quantity Total utility Quantity Total utility 0 0 0 0 1 40 1 50 2 75 2 95 3 105 3 135 4 130 4 170 5 150 5 200 6 165 6 225 The table above shows the…15 8 01:21:29 Units Consumed 0 1 2 3 4 Utility 0 W The value for Z is Total Marginal Utility Multiple Choice -10. 5. 35 -5. Y 40 zero. - 20 X 10 ZThe following table lists the utility that Steve receives from consuming oranges at $0.50 apiece. What is the marginal utility of increasing consumption from two to three oranges? Number of oranges Total utility 1 4 2 15 20 24 12 345
- The marginal utility of the 8th can of beer isRefer to the table below, which presents information on the total utility Alice derives (expressed in utils) from consuming different amounts of ice cream. Scoops of ice cream Total utility (utils) 1 10 2 18 3 28 4 38 5 46 FI Calculate the marginal utility of the 4th scoop of ice cream. Express your answer without units (e.g., if your answer is "20 utils", type "20" in the answer box). Type your answer... 2 W == F2 3 E 80 F3 JAN 5 $ 4 DOO 000 F4 R % 5 T F5 as 6 MacBook Air F6 Y & 7 F7 tv NA U ► 11 8 F8 ( 9 F9 O 1 O W F10 Aa P zoom F11 * Next NA F12Only typed answer Oscar makes purchases of an existing product (X) such that the marginal utility of the last unit he consumes is 10 utils and the price is $5. He also tries a new product (Y) and the marginal utility of the last unit he consumes is 8 utils and the price is $1. The equal marginal principle suggests that Oscar should Multiple Choice increase his consumption of product X and decrease his consumption of product Y. increase
