Table 1 shows Cassandra's utility from the consumption of Popcorn (P.) andCandy bars (Ce) during a week.MarginalutilityfromРорсorn | PopcornMUPCTotalutilityfromTotalUtilityfromMarginalutilityfromMUPCMUCAQuantityPPc Candybars Candybars PBTUCBTUPCMUCB12013362650364624472516.8057PPc = P10PCB = P5.001. Fill out the empty columns applying an appropriate formula.2. Cassandra's weekly allowance is P40. Answer the following if shespends her entire income,a. How much popcorn and how many candy bars will Cassandraconsume each week if she maximizes her utility?.candy barsрорcorn;b. Show that the 2 utility maximizing conditions (equi-marginalprinciple and the income constraint) are satisfied.b.1. MUPCMUCBPPcPcBb.2. I= PPc QPc + PcB QcBc. If Cassandra consumes 3 bags of popcorn and 2 candy bars,compute and explain why with this combination, she is notmaximizing utility.

1) Quantity TU from popcorn MU form Popcorn MUPCPPC TU form candy bars MU from candy bars…

Answered: Table 1 shows Cassandra's utility from…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If at a quantity consumed of 1 unit, total utility equals 25 and marginal utility equals 25, and at a quantity consumed of 2 units, total utility is unknown and marginal utility is 20, and at a quantity consumed of 3 units, total utility is 57 and marginal utility is unknown, what is marginal utility of the third unit?
Question #2 Assume you went to the supermarket with (42) SR in your pocket to be spent on fruits. You find the price tag as (7) SR per Kg for oranges and (21) SR per Kg. for white grapes. The marginal utility (assumed measurable) of each good is independent of the rate of consumption of other good. The marginal utility schedule is as follows: Marginal Utility Schedule Units of good Marginal Utility of MUo/Po Marginal Utility of White grapes Oranges 60 55 48 40 30 24 1 2 3 4 5 6 24 22 20 18 16 14 3.43 3.14 2.86 2.57 2.29 2.00 MUg/Pg 2.86 2.62 2.29 1.90 1.43 1.14
. TOTAL AND MARGINAL UTILITY E UTILITY CALCULATIONS Reset Total Utility Quantity Consumed Total Marginal Utility 70 Utility 60 50 22 40 1 22 30 18 20 2 40 10 14 3 4 6 8 3 54 Quantity Consumed Marginal Utility 10 20 4 64 6. 10 70 4 6. -10 72 -20 -2 Quantity Consumed 70 Quantity Consumed -6 8 64 2. 4 6 8
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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? 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.
Mike is a jellyfish wrangler. In June and July he spent his budget on fish tanks and wet suits. Each fish tank cost $50 and each wet suit cost $100. At Mike's optimal choice, his marginal utility from the last fish tank purchased is 200. This means that his marginal utility from the last wet suit purchased is:
The following table describes the utility that Greta gets from consuming Shiner Bock. Her marginal utility is maximized ___.
Total utility (utils) 0 80 120 148 160 155 Quantity consumed per day 0 1 2 3 4 5 As shown in Exhibit above, the marginal utility for the second unit consumed is
Refer to the table below, which presents information on the total utility Alice derives (expressed in utils) from consuming different amounts of ice cream. Scoops of ice cream Total utility (utils) 1 10 2 18 3 28 4 38 46 43 B wwww 5 Does Alice's total utility exhibit the law of diminishing marginal utility? There is not enough information to answer this question Yes it does No it doesn't FI 2 W F2 M # 3 JAN 5 20 F3 E $ 4 888 F4 R % 5 T F5 A 6 MacBook Air F6 Y 887 & stv F7 U *8 ► 11 F8 A ►► ( 9 F9 76 1 0 W F10 Aa 4) zoom F11 Next SA F12
Units of the Good 0 1 5678AWN2 3 4 Total Utility Total Utility of X of Y 0 0 620 1740 1120 3030 1500 3960 1820 4710 2080 5280 2300 5730 2460 6060 2580 6300 For the next 3 questions, assume that an individual consumes two goods X and Y. The total utility (assumed measurable) of each good is independent of the rate of consumption of other goods. The prices of X and Y are, respectively, $20 and $30. If the consumer buys the fourth unit of X the Marginal Utility per Dollar Spent on X is 16 I If the consumer has $210 to spend on X and Y, the utility-maximizing bundle is The minimum budget necessary to move to a higher equilibrium consumption of X and Y is $ unit(s) of X and unit(s) of Y.
Suppose Al is currently consuming five movies and two concerts per month. If his utility function is given by U = 15MC, where Mrepresents the number of movies seen and C represents the number of concerts attended, Al's total utility is equal to: 75 15 150 10 30
The table shows Jill’s utility schedule for pancakes and coffee # pancakes total utility from pancakes MU from last pancake # cups of coffee total utility from coffee MU from last cup of coffee 1 10 10 1 12 12 2 18 2 22 3 24 3 30 4 28 4 36 5 30 5 40 6 30 6 42 What is Jill’s marginal utility of consuming the 6th pancake? The table shows Jill’s utility schedule for pancakes and coffee # pancakes total utility from pancakes MU from last pancake # cups of coffee total utility from coffee MU from last cup of coffee 1 10 10 1 12 12 2 18 2 22 3 24 3 30 4 28 4 36 5 30 5 40 6 30 6 42 Suppose that the price of pancakes is…

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