Quantity of gasoline Marginal utility from gasoline Quantity of hamburgers Marginal utility from hamburgers 1 35 1 20 2 25 2 18 3 16 3 17 4 10 4 10 5 5 5 8 6 4 6 7 d. Given the data in the above table, income of $13, a price of $1 for a gallon of gasoline and $2.00 for a hamburger, what is the marginal utility per dollar spent on the fifth hamburger?
Quantity of gasoline Marginal utility from gasoline Quantity of hamburgers Marginal utility from hamburgers 1 35 1 20 2 25 2 18 3 16 3 17 4 10 4 10 5 5 5 8 6 4 6 7 d. Given the data in the above table, income of $13, a price of $1 for a gallon of gasoline and $2.00 for a hamburger, what is the marginal utility per dollar spent on the fifth hamburger?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Quantity of gasoline |
|
Quantity of hamburgers |
Marginal utility from hamburgers |
1 |
35 |
1 |
20 |
2 |
25 |
2 |
18 |
3 |
16 |
3 |
17 |
4 |
10 |
4 |
10 |
5 |
5 |
5 |
8 |
6 |
4 |
6 |
7 |
d. Given the data in the above table, income of $13, a
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