Refer to the table below. If the subscription price for a sports app is $2 per week, the subscription price of a game app is $1 per week, and a student has $9 per week to spend, what quantities will she purchase at a consumer optimum? Quantity of Sports Apps per week Marginal Utility (utils) Quantity of Game Apps per Week Marginal Utility (utils) 1 1,200 1 1,700 2 1,000 2 1,400 3 800 3 1,100 4 600 4 800 5 400 5 500 6 100 6 200

Q: Vhen consumers have a budget, their utility is maximized by buying a combination of goods such hat…

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A: # the term marginal utility simply measures the change in utility taking place when the consumption…

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Q: 1. You have a budget of $125 per month that you can spend digital music or eating dinner. Each…

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Q: What is the law of diminishing utility? Please explain with a few examples.

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A: Utility: - Utility is the satisfaction derived by any consumer by consuming a good or service.

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A: Marginal utility implies the extra utility derived from an extra unit of a product.

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A: In economics utility refers to benefit or enjoyment received from consumption of a good or service.…

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Q: Calculate the Marginal Utility then the MU/P to find Consumer Optimum. How many drink(s) and Big…

A: PLease check the step 2 for solution

Q: Quantity Marginal Utility Total Price Demanded Utility $14 1 $12 2 $10 $8 $6 2 m4 5

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Q: Units Total Marginal Consumed Utility Utility 10 32 3.2 20 2.8 30 86 40 111 50 2.4 60 158

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A: In economics, utility refers to the overall satisfaction derived from the consumption of a good or…