(Table: Marginal Utility per Dollar of Twix) Use Table: Marginal Utility per Dollar of Twix. The price of Twix is $2 per bar. I the price of Twix increases to $3 per bar, the marginal utility per dollar for each bar of Twix will: Table: Marginal Utility per Dollar of Twix Bars Quantity of Twix bars Total utility 0 0 1 6 2 3 5 remain constant. O increase. O decrease. O fluctuate randomly. 10 13 15 16
(Table: Marginal Utility per Dollar of Twix) Use Table: Marginal Utility per Dollar of Twix. The price of Twix is $2 per bar. I the price of Twix increases to $3 per bar, the marginal utility per dollar for each bar of Twix will: Table: Marginal Utility per Dollar of Twix Bars Quantity of Twix bars Total utility 0 0 1 6 2 3 5 remain constant. O increase. O decrease. O fluctuate randomly. 10 13 15 16
Chapter10: Consumer Choice Theory
Section: Chapter Questions
Problem 8P
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Transcribed Image Text:(Table: Marginal Utility per Dollar of Twix) Use Table: Marginal Utility per Dollar of Twix. The price of Twix is $2 per bar. If
the price of Twix increases to $3 per bar, the marginal utility per dollar for each bar of Twix will:
Table: Marginal Utility per Dollar of Twix Bars
Quantity of Twix bars Total utility
10
0
1
6
2
10
3
13
15
16
5
O remain constant.
O increase
O decrease.
O fluctuate randomly.
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