You are willing to pay $25 (but not a penny more) for a half-hour massage. At the end of your session, the masseur offers a second half-hour session for $20. After thinking about it a little while, you agree. (a) How much is your total utility from the two massages? Total utility: $ 45 4 (b) How much is your consumer surplus if you get two half-hour messages? Consumer surplus: $

You are willing to pay $25 (but not a penny more) for a half-hour massage. At the end of your session, the masseur offers a second half-hour session for $20. After thinking about it a little while, you agree. (a) How much is your total utility from the two massages? Total utility: $ 45 4 (b) How much is your consumer surplus if you get two half-hour messages? Consumer surplus: $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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*Calculate the marginal utility per dollar of going from eight to nine DVDs. * To increase total utility without increasing spending, should Skeeter change the amount of consumption of either good? No, Skeeter is already consuming at the optimal consumption bundle. Yes, Skeeter should choose more smoothies and fewer DVDs. Yes, Skeeter should choose fewer smoothies and more DVDs. Yes, Skeeter should choose more smoothies and more DVDs. * What is the total utility at the optimal consumption bundle?