Rohan’s current marginal utility from consuming peanuts is 100 utils per ounce and his marginal utility from consuming cashews is 200 utils per ounce. If peanuts cost $0.10 per ounce and cashews cost $0.50 per ounce, is Rohan maximizing his total utility from the kinds of nuts?   Instructions: Enter your responses as whole numbers. At the current level of peanut consumption, Rohan receives:    utils per dollar. At the current level of cashew consumption, Rohan receives:     utils per dollar. Therefore, Rohan             maximizing his total utility because MUp/Pp is           MUc/Pc.

Q: A consumer has $10 to spend on potato chips and sodas. The potato chips cost $2 per bag and the…

A: The budget line shows the alternate combination of two goods which is affordable and can be…

Q: Lee has calculated her marginal utility from buying pizza slices and soda (shown on the table in the…

A: The price of pizza is $2.00 The price of soda is $2.00

Q: John is maximizing utility when consuming two goods, French fries and hot dogs. If the marginal…

A: Utility Maximization is the situation where a consumer spend his all income on goods that maximise…

Q: Cookie Monster always consumes cookies and milk in fixed proportions: 4 cookies to 8 ounces of milk.…

A: The objective of the question is to determine which combination of cookies and milk will provide the…

Q: Which of the following statements is correct? ___ Marginal utility is the sum of total utility. ____…

A: Total utility is the total satisfaction derived from consuming a good.

Q: Kai’s current marginal utility from consuming orange juice is 50 utils per ounce and her marginal…

A: The Law of Equi-Marginal Utility, also known as the Law of Diminishing Marginal Utility, states that…

Q: For Unit 4 Learning Journal, you will use the marginal utility formula to choose between two…

A: The marginal utility is the additional utility that the consumer derives from consuming one more…

Q: Suppose that Ms. Jones is currently exhausting her money income by purchasing 4 units of A for $2 a…

A: Marginal Utility refers to the additional satisfaction or happiness a consumer recieves from…

Q: Good X costs $8 and good Y costs $4 per unit. His utility function is U = 4.5XY. (a) Calculate Moe's…

A: here we calculate the Moes's utility maximizing purchases of X and Y and constrained utility maximum…

Q: The daily total utility per quantity of consumption is shown in the figure. This shows that the…

A: The additional satisfaction a client gets from possessing one additional unit of associate item or…

Q: Max enjoys windsurfing and snorkeling. Max has $35 a day to spend, and he can spend as much time as…

A: Consumer theory is the study of how people allocate their money and available monetary income based…

Q: The marginal utility of the last unit of apples consumed is 10, and the marginal utility of the last…

A: The ratio of the marginal utility of two products is equal to the ratio of prices of the two…

Q: If the marginal utility per dollar is not the same for each good, the consumer could on goods for…

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

Q: Consider the figure to the right, and suppose that the initial point is A. Explain why a decrease in…

A: Marginal utility refers to the additional satisfaction or usefulness that a consumer derives from…

Q: 1. Suppose that on the island, the currency is shell beads. The going price for coconuts is 2.4…

A: It is always widely accepted and used that a consumer should consume at that point where the…

Q: #16. Joanna is deciding between consuming Good X and Good Y. At her current level of consumption,…

A: Joanna is deciding between consuming good X and good Y. At her current level of consumption, her…

Q: 3.1. Explain, with the aid of examples, the following economic concepts in terms of utility theory:…

A: Utility means satisfaction which is derived  by the consumption of goods and services . There are…

Q: 5. Maximizing Utility when Purchasing Two Goods A consumer has an income of $24. The only two goods…

A: Marginal utility is the willingness of a consumer to pay for an extra unit of a good. The consumer…

Q: A consumer is trying to decide between purchasing one smoothie or one cappuccino. They get 30 utils…

A: In economics, the term "utility" refers  to define the value or worth of a product or service. More…

Q: Bridget has a limited income and consumes only wine and cheese; her current consumption choice is…

A: What is Utility? Utility is a term used in economics to describe satisfaction or happiness. When…

Q: Total Utility of Digital Apps per Digital Apps per Period Period (utils) 0 1 2 3 4 5 0 50.0 95.0…

A: We have to find the optimum consumer bundle. and expenditure on it.Optimum Consumer Bundle: When a…

Q: Consider the figure to the right, and suppose that the initial point is A. Explain why a decrease in…

A: The approach proposed in the question is based on consumer theory, namely the Law of Demand and the…

Q: The following table shows the amounts of additional satisfaction (marginal utility) that Ross would…

A: Marginal utility is the extra amount of satisfaction or benefits, a person derives from consuming…

Q: QUESTION 12 The relationship between the marginal utility that George gets from eating a bag of…

A: MU(Marginal Utility) is the change in TU(Total Utility) when an additional unit of the product is…

Q: Quantity Consumed 10 Marginal Utility 4 64 20 10 70 6 -10 72 -20 -2 70 Quantity Consumed Quantity…

A: Marginal utility is the added satisfaction that a consumer gets from having one more unit of a good…

Q: At a garage sale, Dominique purchases a sewing machine for $30 when she was willing to pay $55. If…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: 7. Bob receives utility from days spent traveling on vacation domestically (D) and days spent…

A: Utility:The utility is want satisfying power of a commodity. It can be expressed in cardinal and…

Q: Jane has a budget of $15 to spend at the local scientific store. Her two favorite items are beakers…

A: Correct : a) 3 beakers & 3 petri dishes Utility is maximized at MUx/Px = MU/Py and expenditure…

Q: Brayden receives some utility from consuming a bottle of store-brand soda, an inferior good.…

A: Normal goods and inferior goods are concepts in economics that describe how consumer demand changes…

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

A: marginal utility (MU) = change in total utility (TU) / change in units (Q) So, change in TU = MU x…

Q: R2) The only fruits Dana buys are apples (x) and/or berries (y). She spends $30 on fruits per month.…

A: Utility function shows the levels of benefits that consumer will get after consuming certain number…

Q: Elapsed time (in minutes) 30 60 90 120 150 Total utility of playing video games 20 45 63 78 83 40 62…

A: Marginal utility per dollar is calculated by dividing the marginal utility and price of swimming for…

Q: A consumer downloads 3 movies and 4 apps per week. Suppose the price is $2 per movie and $2 per app,…

A: Given: Marginal utility per Movie = 6 Price per movie = $2 Marginal utility per app = 8 Price per…

Q: The tables show the utility Parker experienced from consuming varying quantities of waffles and…

A: Parker utility maximization will take place at the point when marginal utility per dollar of waffles…

Q: B- In the previously selected combination of goods ( item A), draw-up the budget line (oranges on…

A: Consumer theory is the study of how people allocate funds depending on their personal preferences…

Q: Rohan’s current marginal utility from consuming peanuts is 100 utils per ounce and his marginal…

A: Utility maximization means the consumption of a bundle of goods that provides maximum satisfaction…

Q: b) Diana has $6.00 to spend. She has the option to buy two goods: sandwiches and peppermints.…

A: The table is complete with the marginal utility/$ for each level of consumption as follow

Q: Refer to the table below. If the subscription price for a sports app is $2 per week, the…

A: Given,The subscription price for a sports app Ps is $2 per week.The subscription price for a game…

Q: utility

A: Total utility(TU) is the satisfaction that a person gains from consuming a unit of a good.  Marginal…

Q: Gabriella obtains utility from consuming granola bars and cappuccino. The following table shows the…

A: In economics, the utility function computes the welfare or satisfaction of a consumer as a function…