Part I. Use the table below as a basis for your responses. 1. Fill in the table below. 2. Based on the table, how many hours should the student spend studying per day? 3. Is a five-hour study session a good idea? Briefly explain your answer using marginal utility and total utility analyses. Quantity (hours of studying) Total Utility Marginal Utility а. 1 110 110 2 165 b. 3 с. 20 4 d. 177 е.

Economics (MindTap Course List)
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Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics
Section20.1: Utility Theory
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Part I. Use the table below as a basis for your responses.
1. Fill in the table below.
2. Based on the table, how many hours should the student spend studying per day?
3. Is a five-hour study session a good idea? Briefly explain your answer using marginal utility
and total utility analyses.
Quantity (hours of studying)
Total Utility
Marginal Utility
а.
1
110
110
2
165
b.
3
с.
20
4
d.
177
е.
Part I Table
Transcribed Image Text:Part I. Use the table below as a basis for your responses. 1. Fill in the table below. 2. Based on the table, how many hours should the student spend studying per day? 3. Is a five-hour study session a good idea? Briefly explain your answer using marginal utility and total utility analyses. Quantity (hours of studying) Total Utility Marginal Utility а. 1 110 110 2 165 b. 3 с. 20 4 d. 177 е. Part I Table
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