QUESTION 23 Quantity Per Week 0 1 2 3 4 5 6 7 8 9 Amy 0 5.0 9.9 147 194 24.0 28.5 329 37.2 41.4 Total Utility O Michelle only Robert 0 100 190 270 340 400 450 490 520 510 David 0 Amy, Robert, and David only 600 1200 1800 2400 3000 3600 4200 4800 5400 Refer to the above table. Which of the four people have utility schedules characterized by the law of diminishing marginal utility? O Michelle and David only Amy and Robert only Michelle 0 60 130 220 310 425 575 900 1275 1770
QUESTION 23 Quantity Per Week 0 1 2 3 4 5 6 7 8 9 Amy 0 5.0 9.9 147 194 24.0 28.5 329 37.2 41.4 Total Utility O Michelle only Robert 0 100 190 270 340 400 450 490 520 510 David 0 Amy, Robert, and David only 600 1200 1800 2400 3000 3600 4200 4800 5400 Refer to the above table. Which of the four people have utility schedules characterized by the law of diminishing marginal utility? O Michelle and David only Amy and Robert only Michelle 0 60 130 220 310 425 575 900 1275 1770
Chapter10: Consumer Choice Theory
Section: Chapter Questions
Problem 4P
Related questions
Question
![QUESTION 23
Quantity
Per Week
0
1234 00 0
5
6
7
8
9
Amy
0
5.0
9.9
14.7
194
24.0
28.5
329
37.2
414
Total Utility
David
0
600
1200
1800
2400
3000
3600
4200
4800
5400
Robert
0
100
190
270
340
400
450
490
520
510
Michelle
0
60
130
220
310
425
575
900
1275
1770
Refer to the above table. Which of the four people have utility schedules characterized by the law of diminishing marginal utility?
O Michelle and David only
O Amy and Robert only
Michelle only
Amy, Robert, and David only](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F02acc953-73b9-490a-9786-4bb2b34f0d1e%2Ff768ef55-9264-49d0-ab58-69e559e0a6f3%2Fhft3f7m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 23
Quantity
Per Week
0
1234 00 0
5
6
7
8
9
Amy
0
5.0
9.9
14.7
194
24.0
28.5
329
37.2
414
Total Utility
David
0
600
1200
1800
2400
3000
3600
4200
4800
5400
Robert
0
100
190
270
340
400
450
490
520
510
Michelle
0
60
130
220
310
425
575
900
1275
1770
Refer to the above table. Which of the four people have utility schedules characterized by the law of diminishing marginal utility?
O Michelle and David only
O Amy and Robert only
Michelle only
Amy, Robert, and David only
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