MARGINAL UTILITY (Utils) TOTAL UTILITY (Utils) 15 Fill in the two missing cells of the table. Ice Cream Total Utility Marginal Utility (Cones) (Utils) (Utils per cone) 0 0 35 1 35 30 2 25 3 90 4 110 15 5 125 10 135 On the following graph, use the purple points (diamonds symbol) to plot Eric's total utility (TU) curve if he consumes zero, one, two, three, four, five, or six cones of ice cream per week. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 150 135 120 105 75 60 45 ICE CREAM (Cones) On the following graph, use the blue points (circle symbol) to plot Eric's marginal utility (MU) curve from consuming his first six cones of ice cream. 15 10 ICE CREAM (Cones) For Eric, increasing his consumption of ice cream results in marginal utility.

MARGINAL UTILITY (Utils) TOTAL UTILITY (Utils) 15 Fill in the two missing cells of the table. Ice Cream Total Utility Marginal Utility (Cones) (Utils) (Utils per cone) 0 0 35 1 35 30 2 25 3 90 4 110 15 5 125 10 135 On the following graph, use the purple points (diamonds symbol) to plot Eric's total utility (TU) curve if he consumes zero, one, two, three, four, five, or six cones of ice cream per week. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 150 135 120 105 75 60 45 ICE CREAM (Cones) On the following graph, use the blue points (circle symbol) to plot Eric's marginal utility (MU) curve from consuming his first six cones of ice cream. 15 10 ICE CREAM (Cones) For Eric, increasing his consumption of ice cream results in marginal utility.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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