QUESTION 12The tables below represent the utility that Bill receives from consuming widgets and zercs. For each of these products we observe thatas Bill consumes more of each, he experiences: (for the next question, you'll need to fill in the marginal utilities)WidgetsQ TU MU1 1002 180ZercsQ TU MU1 802 1503 2104 2603.2504 3005 3206 3307 3388 3455 3006 3307 3508 360Increasing total utility and increasing marginal utilityIncreasing total utility and diminishing marginal utilityDiminishing total utility and diminishing marginal utilityC.OD. Diminishing total utility and increasing marginal utiliky QUESTION 13Refer to question 12. If Bil's budget is 8 and the price of each product is 1, the utility maximizing combination of widgets and zercs would be:2 widgets and 6 zercs3 widgets and 5 zeres4 widgets and 4 zercsD.none of the above

Since you have asked multiple questions, we will be answering the first one, if you need an answer…

QUESTION 12 The tables below represent the utility that Bill receives from consuming widgets and zeres. For each of these products we observe that as Bill consumes more of each, he experiences: (for the next question, you'll need to fill in the marginal utilities) Widgets Q TU MU 1 100 2 180 3 250 4 300 Zercs Q TU MU 1 80 2 150 3 210 4 260 5 320 6 330 7 338 8 345 5 300 6 330 7 350 8 360 Increasing total utility and increasing marginal utility OA Increasing total utility and diminishing marginal utility CB. Diminishing total utility and diminishing marginal utility OD. Diminishing total utility and increasing marginal utilty

QUESTION 12 The tables below represent the utility that Bill receives from consuming widgets and zeres. For each of these products we observe that as Bill consumes more of each, he experiences: (for the next question, you'll need to fill in the marginal utilities) Widgets Q TU MU 1 100 2 180 3 250 4 300 Zercs Q TU MU 1 80 2 150 3 210 4 260 5 320 6 330 7 338 8 345 5 300 6 330 7 350 8 360 Increasing total utility and increasing marginal utility OA Increasing total utility and diminishing marginal utility CB. Diminishing total utility and diminishing marginal utility OD. Diminishing total utility and increasing marginal utilty

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

do fast
6
Typed answer.
Q35
Only typing answer Please explain step by step
None
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 units
The 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?
Question 23 Assume Tom's utility for tacos is as follows: Tom's utility from consuming tacos # tacos Total Utility 1 35 2 47 3 57 4 63 5 65 What is the marginal utility Tom gets from eating the 3rd taco?
5. Leila currently buys 6 trips using public transportation with a marginal utility of 2, and 4 trips using ride-share with a marginal utility of 8. Suppose that the price of a trip through public transport is 12 and the price of a trip through ride share is 56. Is Leila currently maximizing her utility? Explain why or why not. If not, what is the optimal action to improve her utility?
Utils 18 12 MU per S: Price = $2 Movies MU per $: Price = $3 Ⓒ 37 Utils 12 MU per $: Price = $1 Books In the figure to the above, suppose the price of movies increases from $3 to $6. The increase in price shifts the benefit curve (marginal utility per dollar) for movies . For the initial quantity of 6 movies, the marginal than the marginal utility per dollar of books. (Enter your utility per dollar becomes utils, which is response as a whole number.)
12 Manuel is a consuming his optimal bundle, and is currently willing to give up 5 apples to obtain 1 orange. Jorge is in the same economy and consuming his optimal bundle, but his marginal utility of oranges is twice that of Manuel. How many apples is Jorge willing to give up to obtain 1 orange? Explain Briefly