SECTION A-STRUCTURED QUESTIONS[TOTAL = 30 MARKS]Answer ALL questions. SHOW ALL YOUR WORKINGS.QUESTION 1 (10 MARKS)The table below shows the quantity of goods consumed and the total utility of two goods.Total Utility (TU)GOOD YQUANTITYGOOD XGOOD Z1562503603515509005851000159084514752340117021003240Calculate the Marginal Utility (MU) for each good.(10 marks)QUESTION 2 (15 MARKS)The table below provide information about demand and supply of a new formulated herbaldrink in the district of Bukit Tinggi.MarkkatMarket12345

Marginal Utility is the change in Total Utility when an additional quantity is produced.

The table below shows the quantity of goods consumed and the total utility of two goods. Total Utility (TU) GOOD Y QUANTITY GOOD X GOOD Z 1 156 250 360 351 550 900 585 1000 1590 845 1475 2340 1170 2100 3240 Calculate the Marginal Utility (MU) for each good. 2345

The table below shows the quantity of goods consumed and the total utility of two goods. Total Utility (TU) GOOD Y QUANTITY GOOD X GOOD Z 1 156 250 360 351 550 900 585 1000 1590 845 1475 2340 1170 2100 3240 Calculate the Marginal Utility (MU) for each good. 2345

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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