Quanity Utility from Video Games Utility from Novels Marginal Utilty Video Games Marginal Utilty Novels Marginal Utilty per Dollar Video Games Marginal Utilty per Dollar Novels 0 0 0 1 30 30 2 40 38 3 48 44 4 54 46 5 58 47 The table shows the utility that Mark gets from the consumption of video games and novels. Mark has $100 per month to spend on video games and novels. Video game cost $20 each and novels cost$20 Calculate Mark’s utility from Video game Novels Calculate the MU per dollar of Mark’s consumption choices State the optimal number of video games and the optimal number of novels that Mark will conume in a month. State how each of the following will affect the quantity of VG and N consumed by Abina An increase in the money she has to spend by $20, ceteris paribus An increase in the price of ONE of the goods, ceteris paribus
Quanity Utility from Video Games Utility from Novels Marginal Utilty Video Games Marginal Utilty Novels Marginal Utilty per Dollar Video Games Marginal Utilty per Dollar Novels 0 0 0 1 30 30 2 40 38 3 48 44 4 54 46 5 58 47 The table shows the utility that Mark gets from the consumption of video games and novels. Mark has $100 per month to spend on video games and novels. Video game cost $20 each and novels cost$20 Calculate Mark’s utility from Video game Novels Calculate the MU per dollar of Mark’s consumption choices State the optimal number of video games and the optimal number of novels that Mark will conume in a month. State how each of the following will affect the quantity of VG and N consumed by Abina An increase in the money she has to spend by $20, ceteris paribus An increase in the price of ONE of the goods, ceteris paribus
Related questions
Question
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Quanity |
Utility from Video Games |
Utility from Novels |
Marginal Utilty Video Games |
Marginal Utilty Novels |
Marginal Utilty per Dollar Video Games |
Marginal Utilty per Dollar Novels |
|
0 |
0 |
0 |
||||
|
1 |
30 |
30 |
||||
|
2 |
40 |
38 |
||||
|
3 |
48 |
44 |
||||
|
4 |
54 |
46 |
||||
|
5 |
58 |
47 |
The table shows the utility that Mark gets from the consumption of video games and novels. Mark has $100 per month to spend on video games and novels. Video game cost $20 each and novels cost$20
- Calculate Mark’s utility from
- Video game
- Novels
- Calculate the MU per dollar of Mark’s consumption choices
- State the optimal number of video games and the optimal number of novels that Mark will conume in a month.
- State how each of the following will affect the quantity of VG and N consumed by Abina
- An increase in the money she has to spend by $20, ceteris paribus
- An increase in the price of ONE of the goods, ceteris paribus
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