Product M has a price of $7.95. If the Total Utility an individual receives from consuming 8 units of Product M is 249 and the Total Utility for consuming one fewer unit of Product M is 228, then what is the Marginal Utility per Price of the 8th unit of Product M? (Round your answer to 2 digits after the decimal.)
Product M has a price of $7.95. If the Total Utility an individual receives from consuming 8 units of Product M is 249 and the Total Utility for consuming one fewer unit of Product M is 228, then what is the Marginal Utility per Price of the 8th unit of Product M? (Round your answer to 2 digits after the decimal.)
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 3SQ
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![Product M has a price of $7.95.
If the Total Utility an individual receives from
consuming 8 units of Product M is 249 and
the Total Utility for consuming one fewer unit
of Product M is 228, then what is the Marginal
Utility per Price of the 8th unit of Product M?
(Round your answer to 2 digits after the
decimal.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff8fcabfc-33a5-4e56-b31f-345720ec67be%2Fd86d6869-180d-46ba-8e2c-b1b2f1d4e27d%2Fsjd8pol_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Product M has a price of $7.95.
If the Total Utility an individual receives from
consuming 8 units of Product M is 249 and
the Total Utility for consuming one fewer unit
of Product M is 228, then what is the Marginal
Utility per Price of the 8th unit of Product M?
(Round your answer to 2 digits after the
decimal.)
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