plans to hold a pizza party for her friends. Below is data on Rachel's utility for pizza in terms of 8-inch pizzas. Assume $1 has 1 unit of ut Quantity of 8" pizzas Total Utility of Pizzas 1 18 34 3 48 60 5 70 9. 78 17 84 89 91 6. 2.
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- As organic vegetables increase in popularity, Marcy finds herself eating more and more organic kale. Use the table to answer the two questions. Units of organic kale consumed by Marcy Total utility of the units consumed Marginal utility of each additional unit consumed 1 10 – 2 18 8 3 – 6 4 28 4 5 30 – 6 28 −2 What is the total utility that Marcy obtains from consuming three units of organic kale? total utility: What is Marcy's marginal utility for the fifth unit of organic kale? marginal utility:Quantity of Hot Marginal Utility from Cocoa Hot Cocoa 1 2 3 4 5 4 8 2 8 7 16 Utility of Hot Cocoa and Donuts. 5 4 1 2 3 4 5 Quantity of Marginal Utility from Donuts Donuts The price of hot cocoa is $2 and the price of a donut is $1. What is the marginal utility per dollar for two donuts? 10 8 6 3The following table reflects the utility one receives from consuming a given product. Units Consumed Total Utility (TU) Marginal Utility (MU) 0 0 ------- 1 60 60 2 ____ 50 3 150 ____ 4 175 ____ 5 ____ 20 6 210 ____ Complete the table solving for the missing total utility or marginal utility values in each row. Total utility increases throughout the table. What rate does total utility increase? In other words, is it rising at an increasing rate, a…
- Kenji enjoys buying shoes. The following table contains information on Kenji's utility from shoes each month. Fill in the two missing cells of the table. Total Utility (Utils) 0 35 Shoes (Pairs) ON 36 90 110 125 135 Marginal Utility (Utils per pair) 35 30 25 15 10c. Samuelson maximizes his utility by spending his entire income of $29 on video 3.5 games and cards. The price of video games is $4, and he buys 2 games. The marginal utility from the last card he buys is 42. The table represents Samuelson's marginal utility from each good. Marginal utility Quantity Video Games Cards 1 45 70 28 54 3 16 42 4 10 16 Required: i. Calculate the price of a card using the condition that Samuelson's marginal utilities per dollar are equal. ii. What is Samuelson’s total utility?You have 6 hours to study for 2 exams tomorrow. The relationship between the time studying and test scores is shown below. Economics Psychology Hours 0 1 2 3 134 4 5 6 Score 55 3 70 70 63 76 81 85 88 Hours 0 1 2 3 4 5 6 Score 55 16 70 73 75 75 66 76 a. Use the rule for determining optimal purchases to decide how many hours you should study each subject. Treat each point on an exam like 1 unit of utility and assume you are equally interested in doing well in economics and psychology. You should study economics for hours and psychology for hours.
- The following table shows Madison's utility from consuming popcorn and Coke. Suppose that Madison has income of $9.00, the price of popcorn is $3.00, and the price of Coke is $0.75. If Madison wants to maximize her utility, how much popcorn and Coke should she buy? Рорсorn Marginal Utility 192 Coke Quantity Marginal Utility 1 144 144 108 3 96 72 4 48 36 24 18 6. 12 Madison should buy boxes of popcorn and cans of Coke. (Enter your responses as integers.)Total Total Utility Utility 6 10 10 14 13 15 15 15 16 7 30. If the consumer has only $8 to spend, what would be the optimal consumption of both goods for this consumer? Githe O HD C Number of Colas 1 2 3 4 D 5 a. 4 colas and 2 burgers. b. 5 colas and 1 burger. c. 2 colas and 3 burgers. d. 4 colas and 4 burgers. MUC 6 4 3 2 1 MU/S 6 4 3 2 1 Number of Burgers 1 2 3 4 5 MUb wwwww 10 4 1 0 -8 MU/$ 5 2 0.5 0 -4Kim has $24 per week in her entertainment budget. She splits her time between going to the movies and yoga classes. Each movie costs $8 while each yoga class costs $3. The total utility from each of these activities is set out in the table below. What is Kim's total utility maximizing point? Movies Total Utility Yoga Classes Total Utility 0 10 40 1 75 12 105 13 130 14 160 15 16 17 18 10 11 13 4 15 O movies, 8 yoga classes 1 movie, 5 yoga classes 2 movies, 2 yoga classes 3 movies, O yoga classes 10 30 55 176 92 106 114 116 117
- The table below shows Cedric's marginal utility for soda and cookies at each quantity. What is his total utility if he consumes 6 soda and 3 cookies? Quantity of Soda Marginal Utility Quantity of Cookies Marginal Utility 1 48 1 39 2 46 2 37 3 44 3 35 4 41 4 32 5 37 5 29 6 34 6 25 7 31 7 22 8 25 8 18 9 18 9 14 10 12 10 10 11 5 11 7 Group of answer choices 379 total utility units 66 total utility units 314 total utility unitsThe table shows the total utility (TU) that James receives from consuming different amounts of two goods X and Y, per month. Quantity TUx MUx MUx/Px TUy MUy MUy/Py 0 0 0 0 0 0 0 1 50 50 16.67 75 75 25.00 2 88 38 12.67 117 42 14.00 3 121 33 11.00 153 36 12.00 4 150 29 9.67 181 28 9.33 5 175 25 8.33 206 25 8.33 6 196 21 7.00 225 19 6.33 7 214 18 6.00 243 18 6.00 8 229 15 5.00 260 17 5.67 9 241 12 4.00 276 16 5.33 d.How much total utility will James experience by buying the utility-maximizing combination? e.Suppose the price of good Y increases to $6. How many units of X and Y will he buy to maximize his utility now?Bags of potato chips Total utility Candy bars Quantity Total utility Quantity 1 10 1 8 2 16 2 14 3 18 3 18 4 19 4 21 20 23 Liz consumes two goods, candy bars and potato chips. Her budget is $4 per day. The price of a candy bar is $1.00 and the price of a bag of chips is 50 cents. Her utility is in the table above. For Liz to maximize her utility, what combination of candy bars and potato chips should she eat? O A. 2 candy bars and 4 bags of potato chips O B. 4 candy bars and 0 bags of potato chips OC. 1 candy bar and 5 bags of potato chips O D. 3 candy bars and 2 bags of potato chips O E. None of the above answers are correct.