Question 21 10 pts In the following scenario, bocce balls cost $12.50 and gumballs cost $0.25. The buyer has $76.85 to spend on these items. Utility for two goods Marginal Bocce balls Total Marginal Gumballs Marginal Utility per Total Utility Marginal Utility per (Quantity) Utility Utility (Quantity) Utility Dollar Dollar 1 1200 1200 1 60 60 2 2000 800 2 100 40 3 2600 600 3 125 25 st 4 3000 400 4 135 10 5 9 3100 100 5 140 5 3150 50 6 142 2 7 3175 25 7 143 1 Using the information above, the buyer's total utility maximizing point will be at a marginal utility per dollar of Write your answer as a number rounded to one decimal place (if decimals are needed). For partial credit, show your work. You can show your work as a comment on your exam submission, or as a file in the optional file submission field below. Let me know if you have any questions.
Question 21 10 pts In the following scenario, bocce balls cost $12.50 and gumballs cost $0.25. The buyer has $76.85 to spend on these items. Utility for two goods Marginal Bocce balls Total Marginal Gumballs Marginal Utility per Total Utility Marginal Utility per (Quantity) Utility Utility (Quantity) Utility Dollar Dollar 1 1200 1200 1 60 60 2 2000 800 2 100 40 3 2600 600 3 125 25 st 4 3000 400 4 135 10 5 9 3100 100 5 140 5 3150 50 6 142 2 7 3175 25 7 143 1 Using the information above, the buyer's total utility maximizing point will be at a marginal utility per dollar of Write your answer as a number rounded to one decimal place (if decimals are needed). For partial credit, show your work. You can show your work as a comment on your exam submission, or as a file in the optional file submission field below. Let me know if you have any questions.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Question 21
10 pts
In the following scenario, bocce balls cost $12.50 and gumballs cost $0.25. The buyer has
$76.85 to spend on these items.
Utility for two goods
Marginal
Bocce balls
Total Marginal
Gumballs
Marginal
Utility per
Total Utility
Marginal
Utility per
(Quantity)
Utility
Utility
(Quantity)
Utility
Dollar
Dollar
1
1200
1200
1
60
60
2
2000
800
2
100
40
3
2600
600
3
125
25
st
4
3000
400
4
135
10
5
9
3100
100
5
140
5
3150
50
6
142
2
7
3175
25
7
143
1
Using the information above, the buyer's total utility maximizing point will be at a marginal
utility per dollar of
Write your answer as a number rounded to one decimal place (if decimals are needed).
For partial credit, show your work. You can show your work as a comment on your exam
submission, or as a file in the optional file submission field below. Let me know if you have
any questions.
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