Tod loves to travel, and he takes several river cruises per year. The t information about the utility Tod gets from the river cruises. Number of river cruises Total utility Marginal utility 0 1 2 0 12 20 25 12 8 5 From this information, it can be concluded......... that Tod will take two river cruises.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Tod loves to travel, and he takes several river cruises per year. The table contains
information about the utility Tod gets from the river cruises.
Number of river cruises Total utility Marginal utility
0
1
2
0
12
20
25
12
8
5
From this information, it can be concluded...
that Tod will take two river cruises.
that total utility is maximized when Tod takes one river cruise.
that the number of river cruises Tod takes is indeterminable without knowing
Tod's income or the price of the cruises.
that Tod will take three river cruises.
Transcribed Image Text:Tod loves to travel, and he takes several river cruises per year. The table contains information about the utility Tod gets from the river cruises. Number of river cruises Total utility Marginal utility 0 1 2 0 12 20 25 12 8 5 From this information, it can be concluded... that Tod will take two river cruises. that total utility is maximized when Tod takes one river cruise. that the number of river cruises Tod takes is indeterminable without knowing Tod's income or the price of the cruises. that Tod will take three river cruises.
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