"To reach Consumer's equilibrium when buying any two goods, the consumer has to choose the units of the goods that have the same marginal utility" O True O False
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A: Marginal utility is the addition to the total satisfaction a consumer gets after consuming an…
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Q: 39. At the point of satiety, marginal utility is A. O Zero B. O Positive C. O Maximum D. O Negative
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Q: Units of rice 1 2 3 4 5 6 7 8 O 4 utils O 50 utils 53 utils O 28 utils Marginal Utility of rice O 25…
A: Since you have posted multiple question, as per the guidelines we can solve only one question per…
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A:
Q: Quantity of Food (Y) Y2 Y1 YB Yc IC2 YA IC1 Хв ХА Хс Quantity of Clothes (X)
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Q: onsumption
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A: Marginal utility is the added satisfaction a consumer gets from having one more unit of a good or…
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A: Correct : a) Total utility = 50 ; Marginal Utility = 5
Q: et say we have 2 good ) then for that situation if we buy good A
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A: please find the answer below
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A: This question pertains to the concept of utility theory in economics, which states that the utility,…
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A: Price of song=$2 Price of cookie=$1
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A: Given : The price of a mini pizza is $1 The price of a soda is $.50 Money income = $4
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A: Marginal utility and total utility are key concepts in economics, both related to the satisfaction…
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A: Utility means satisfaction. Utility is maximized where Marginal utility per dollar of one good is…
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A: The Equilibrium condition for utility maximization: MUa/Pa = MUb/Pb The marginal utilities per…
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"To reach Consumer's equilibrium when buying any two goods, the consumer has to choose the units of the goods that have the same marginal utility"
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- Table 6.1 Pretzels Marginal Utility 1 30 20 3 5 4 Refer to Table 6.1, which shows the marginal utility of each additional unit of pretzel for a consumer. The first column of the table shows the number of pretzels consumed in a day, and the second column of the table shows the marginal utility of each additional unit of pretzel. The total utility derived from the consumption of three pretzels is units. O a. 5 O b. 55 Oc. 15 Od. 57 O e. 70Total utility is maximized in the consumption oftwo goods by equating thea. prices of both goods for the last dollar spenton each good.b. marginal utilities of both goods for the lastdollar spent on each good.c. ratios of marginal utility to the price of bothgoods for the last dollar spent on each good.d. marginal utility of one good to the price ofthe other good.5. Maximum utility occurs when the marginal utility per dollar for both goods is equal. True True O False
- The following table shows Madison's utility from consuming popcorn and Coke. Suppose that Madison has income of $9.00, the price of popcorn is $3.00, and the price of Coke is $0.75. If Madison wants to maximize her utility, how much popcorn and Coke should she buy? Рорсorn Marginal Utility 192 Coke Quantity Marginal Utility 1 144 144 108 3 96 72 4 48 36 24 18 6. 12 Madison should buy boxes of popcorn and cans of Coke. (Enter your responses as integers.)Total Total Utility Utility 6 10 10 14 13 15 15 15 16 7 30. If the consumer has only $8 to spend, what would be the optimal consumption of both goods for this consumer? Githe O HD C Number of Colas 1 2 3 4 D 5 a. 4 colas and 2 burgers. b. 5 colas and 1 burger. c. 2 colas and 3 burgers. d. 4 colas and 4 burgers. MUC 6 4 3 2 1 MU/S 6 4 3 2 1 Number of Burgers 1 2 3 4 5 MUb wwwww 10 4 1 0 -8 MU/$ 5 2 0.5 0 -41-Which of the following provides a higher marginal utility, a diamond or a pint of water? A dimond A point of water They prodive about the same marginal utility 2- Unit of Apples MU of Apple Unit of Oranges MU of Oranges 1st 4 1st 9 2nd 3 2nd 3 3rd 1 3rd 2 4th 0 4th 0 Suppose the price of an apple is $2, and the price of an orange if $3. You have a budget $10 for these two items. What would you put in your basket first? an Apple an Orange You are indifferent between putting an apple or an orange in your basket. We do not have enough information to answer this question.
- Exhibit 5-2 Michael's Utility Schedule Assume the price of cola is $8 per unit and the price of pretzels is $4 per unit. Units of TU of MU of Units of cola TU of cola MU of cola 40 pretzels 30 20 16 40 pretzels pretzels 30 2 3 32 2 3 96 112 124 24 66 78 84 4 4 In Exhibit 5-2, if Michael has $40 to spend on cola and pretzels, what is his maximum utility possible? 40. 174. O 190. O 208.The table below shows Cedric's marginal utility for soda and cookies at each quantity. What is his total utility if he consumes 6 soda and 3 cookies? Quantity of Soda Marginal Utility Quantity of Cookies Marginal Utility 1 48 1 39 2 46 2 37 3 44 3 35 4 41 4 32 5 37 5 29 6 34 6 25 7 31 7 22 8 25 8 18 9 18 9 14 10 12 10 10 11 5 11 7 Group of answer choices 379 total utility units 66 total utility units 314 total utility units. 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 ? ?…
- Fill in the blanks in the table below Quantity of Total Hamburgers Utility Marginal Utility per Week Hamburgers Hamburgers 1 40 60 76 2 3 4 5 6 91 NSS 40 16 10 Quantity of Movies per Week 2 3 4 5 6 Total Utility Movies OC. 25 400 700 850 950 1,025 Marginal Utility Movies 400 300 O 100 50 25 Assume the price of a hamburger is $2 and the price of a movie is $5, and the consumer's income is $29 If the consumer is in equilibrium, what is the marginal utildy per last dollar spent on movies and hamburgers? OA. 10 OB. 20 OD. 50Suppose the seventh carrot you consume provides a marginal utility of 1 util and after eating the eighth carrot, you would have a total of 5 utils. If you consume the eighth carrot your marginal utility will O decrease by 4 O increase by 4 decrease by 1 increase by 1 O not enough information to determine the answer.Table 6.2 Units Consumed Total Utility 1 30 65 85 4 89 88 Refer to Table 6.2, which shows the total utility derived from the consumption of a good. The first column of the table shows the number of units of the good consumed in a day, and the second column of the table shows the total utility derived from that consumption. What is the marginal utility of consuming the third unit? Oa 65 O b. 20 OC. 35 Od. 0 O e. 30
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