Utility is a type of function that occurs in economics. When a consumer receives x units of a certain product, a certain amount of pleasure, or utility U, is derived. The graph represents a typical utility function. a) Find the average rate of change of U as x changes from 0 to 1; from 1 to 2; from 2 to 3; from 3 to 4. b) Why do the average rates of change decrease as x increases? Utility (pleasure units) AU 200- 150- 100- 50- 0-4 0 (1,79) (2,125) I (3,158) (4,183) 2 Number of units of product

Utility is a type of function that occurs in economics. When a consumer receives x units of a certain product, a certain amount of pleasure, or utility U, is derived. The graph represents a typical utility function. a) Find the average rate of change of U as x changes from 0 to 1; from 1 to 2; from 2 to 3; from 3 to 4. b) Why do the average rates of change decrease as x increases? Utility (pleasure units) AU 200- 150- 100- 50- 0-4 0 (1,79) (2,125) I (3,158) (4,183) 2 Number of units of product

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter4: Polynomial And Rational Functions

Section4.1: Polynomial Functions Of Degree Greater Than

Problem 1E

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