The table shows the marginal benefit that Marcus derives by consuming different quantities of hotdog and soda. The price of a hotdog is $3, and the price of a soda is $1.SodaMarginal Benefits ($)Marginal Benefits ($)10ITT864210.6What is the optimal combination of Soda and Hotdog for Marcus, if his weekly budget for hotdog and soda is $14?Quantity23456O A. 2 sodas, and 4 hotdogsO B. 3 sodas, and 3 hotdogsO C. 5 sodas, and 3 hotdogsO D. 6 sodas, and 5 hotdogsHotdog1812631

Marginal benefits refer to the additional benefit a consumer derives from additional consumption of…

The table shows the marginal benefit that Marcus derives by consuming different quantities of hotdog and soda. The price of a hotdog is $3, and the price of a soda is $1. Soda Marginal Benefits ($) 10 itt 8 6 4 1 What is the optimal combination of Soda and Hotdog for Marcus, if his weekly budget for hotdog and soda is $14? Quantity Hotdog O A. 2 sodas, and 4 hotdogs OB. 3 sodas, and 3 hotdogs OC. 5 sodas, and 3 hotdogs O D. 6 sodas, and 5 hotdogs Marginal Benefits (S) 18 12 6 3 0.6

The table shows the marginal benefit that Marcus derives by consuming different quantities of hotdog and soda. The price of a hotdog is $3, and the price of a soda is $1. Soda Marginal Benefits ($) 10 itt 8 6 4 1 What is the optimal combination of Soda and Hotdog for Marcus, if his weekly budget for hotdog and soda is $14? Quantity Hotdog O A. 2 sodas, and 4 hotdogs OB. 3 sodas, and 3 hotdogs OC. 5 sodas, and 3 hotdogs O D. 6 sodas, and 5 hotdogs Marginal Benefits (S) 18 12 6 3 0.6

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

A. Based on the graph would you say marginal utility is increasing or decreasing B. Identify on the graph the quantity level at which utility is maximized
26. Danny has $12 to spend on two goods: pies and soda. The price of a pie is $4, and the price of a can of soda is $2. To maximize his utility, Danny buys A) the combination that gives him equal total utility from pies and soda B) 2 pies and 2 cans of soda C) oniy sodas because they are iess expensive D) the combination that gives him the same marginai utility per doillar spent on pies as on soda
1. Calculate the marginal utility per dollar for sodas.
The following table describes the utility that Greta gets from consuming Shiner Bock. Her marginal utility is maximized ___.
Typed plzzz and asap Thanks
You like to eat apples and carrots. The graph shows your budget for both of these items at Harris Teeter. The table shows your total utility when you consume apples or carrots. Given this, what is your optimal consumption point? Carrots 30 40 50 30- 23 O a. A O b. E O c. F O d. C 15 10 5 A B Apples (Quantity) Total Utility Carrots (Quantity) Total Utility 10 100 20 10 20 30 40 50 Apples 190 C 270 330 360 5 10 15 20 23 25 30 50 95 160 205 240 250 280
The table below shows the marginal benefit that Dan derives by consuming different quantities of tacos and soda .The price of a taco is $3 and the price of soda is $1. Quantity sodas Tacos Marginal benefits ($) Marginal benefits($) 1 10 18 2 8 12 3 6 6 4 4 3 5 2 1 6 1 0.6 Refer to the table above.If Dan consumes 3 tacos and 0 sodas -not necessary his optical choice- how much consumer surplus is he enjoying? a) $ 24 b) $ 27 c) $ 9 d) $6
Only typed answer and please don't use chat gpt and don't use table
The following table shows Ellie's utility from consuming slices of cake and cans of 7- Up. 5- Marginal Utility from Last Slice Slices Cans Marginal Utility from Last Can 4.5- of of Cake 7- Up 4- - 120 100 1 120 3.5- 2 60 3- 80 45 4 60 4 30 2.5- 40 5 20 6. 20 6 15 2- Suppose Ellie has $3 per week to spend on cake and 7- Up and that the price of a slice of cake is $0.50. 1.5- 1- 1.) Use the point drawing tool to plot Ellie's demand for 7- Up at a price of $0.50. Label this point 'A'. 0.5- 0- 2.) Use the point drawing tool to plot Ellie's demand for 7- Up at a price of $1.00. Label this point 'B'. 2 3 4 Quantity of 7-Up 3.) Use the line drawing tool to connect the dots to form Ellie's demand curve. Properly label this line. Carefully follow the instructions above, and only draw the required objects. O -2 3 Price of 7-Up
Question 5 Andrew is currently spending all his income on 2 goods, burgers and Pepsi. He buys burgers at 4 L.E. a unit, with a total utility of 1000 and a marginal utility of 24. He buys Pepsi at 1 L.E a unit with a total utility of 800 and a marginal utility of 18. In order of reach consumer equilibrium, he should consume: The same amount of burgers and Pepsi. More Pepsi but the same amount of burgers. More Pepsi and less burgers. More burgers but the same amount of Pepsi. More burgers and less Pepsi.
. Matilda is downloading music and videos from an online site. She is currently buying three music downloads that cost $3 each and two video downloads that also cost $3 each. The table below indicates what she reports as the marginal utility of the last music download and of the last video download in this combination of purchases. Quantity Price per Download MU per download Music downloads 3 $3 60 Video downloads 2 $3 45 As an assignment for her Microeconomics course, Matilda used the marginal utilities that she gave to her 3rd music download and her 2nd video download to complete the Experiment Tally Sheet below. Her available budget was $19.00. Downloads of mu (score) from 1 to 100 Price of each $3.00 Money spent on Downloads of mu (score) from 1 to 100 Price of each $3.00 Money spent on Total Money Total Budget music mu mu/$ music videos mu mu/$ videos Spent Remaining 1st ? ?…
given the following informationon quantity consumed of cheese and total utility for Carl answer the following can you please help to check my answer. thanks qty (in oz) tu mu 1 50 0 2 70 20 3 85 15 4 95 10 5 90 5 a) what is the marginal for each addtion ounce of cheese - see above b) at a price of $16 an ounce, how many ounces of caviar should carl purchase to optimize his satisfaction? my answer 2 c) what is his conusmer surplus at this optimal level of consumption? (can you help me solve this I see too many diffrence equation for this very confuse)