Question #1. Lisa's level of satisfaction for the consumption of apples at college is given by thefollowingUnitsTotalUtility, TUMarginalUtility, MUMU/$0012023534545055064535a.Fill in the missing MU entries aboveb. Let apples sell for $0.50 each. Determine Lisa's MU per dollar, MU/$, and fill in the missingentries above

Total utility shows the total satisfaction derived from consumption of good. Marginal utility shows…

Question #1. Lisa's level of satisfaction for the consumption of apples at college is given by the following Units Total Utility, TU Marginal Utility, MU MU/$ a. b. 0 0 1 20 2 35 3 45 4 50 5 50 6 45 7 35 Fill in the missing MU entries above Let apples sell for $0.50 each. Determine Lisa's MU per dollar, MU/$, and fill in the missing entries above

Question #1. Lisa's level of satisfaction for the consumption of apples at college is given by the following Units Total Utility, TU Marginal Utility, MU MU/$ a. b. 0 0 1 20 2 35 3 45 4 50 5 50 6 45 7 35 Fill in the missing MU entries above Let apples sell for $0.50 each. Determine Lisa's MU per dollar, MU/$, and fill in the missing entries above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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. TOTAL AND MARGINAL UTILITY E UTILITY CALCULATIONS Reset Total Utility Quantity Consumed Total Marginal Utility 70 Utility 60 50 22 40 1 22 30 18 20 2 40 10 14 3 4 6 8 3 54 Quantity Consumed Marginal Utility 10 20 4 64 6. 10 70 4 6. -10 72 -20 -2 Quantity Consumed 70 Quantity Consumed -6 8 64 2. 4 6 8
Table A – Faris Daily Consumption Dozens of Oysters Total Utility Marginal Utility per Day 1 60 104 3 134 4 152 5 160 Number of Total Utility Marginal Utility Root Beers per Day 1 40 70 3 94 4 114 5 128 Refer to Table A shows Faris's consumption on the oysters and root beers per day for a total five days; i. Compute Faris's marginal utility of for consumption of dozens of oyster and number of root beers per day ii. At what units per day Faris's Diminishing Marginal Utility sets in for consumption of dozens of oyster and number root beers per day. iii. Please briefly explain why Faris will experience the Diminishing Marginal Utility as he consumes more unit of oysters and root beers.
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A. Based on the graph would you say marginal utility is increasing or decreasing B. Identify on the graph the quantity level at which utility is maximized
1. Calculate the marginal utility per dollar for sodas.
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