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zero First Second Third Fourth Fifth Sixth Second Third Fourth Fifth Sixth Seventh Eighth Seventh Eighth Avocados Zero First a. Plot Brett's total utility on a scale diagram, with utils on the vertical axis and the number of avocados (per month) on the horizontal axis. Using the multipoint curve drawing tool, plot the total utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. b. Compute the marginal utility for each avocado and fill in the table. Total Utility (in utils) 0 180 U 180 330 440 330 440 510 560 590 610 620 510 560 590 610 620 A. Because marginal utility decreases as each avocado is consumed B. Because total utility decreases as each avocado is consumed C. Because marginal utility increases as each avocado is consumed Marginal Utility (in utils) c. Plot the marginal utility on a scale diagram, with utils on the vertical axis, and the number of avocados (per month) on the horizontal axis (Make sure to plot marginal utility at the midpoints between units.) Using the multipoint curve drawing tool, plot each point of the marginal utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. d. Explain why it is reasonable that Brett's utility increases by smaller and smaller amounts for each successive avocado consumed. (Select all that apply)

zero First Second Third Fourth Fifth Sixth Second Third Fourth Fifth Sixth Seventh Eighth Seventh Eighth Avocados Zero First a. Plot Brett's total utility on a scale diagram, with utils on the vertical axis and the number of avocados (per month) on the horizontal axis. Using the multipoint curve drawing tool, plot the total utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. b. Compute the marginal utility for each avocado and fill in the table. Total Utility (in utils) 0 180 U 180 330 440 330 440 510 560 590 610 620 510 560 590 610 620 A. Because marginal utility decreases as each avocado is consumed B. Because total utility decreases as each avocado is consumed C. Because marginal utility increases as each avocado is consumed Marginal Utility (in utils) c. Plot the marginal utility on a scale diagram, with utils on the vertical axis, and the number of avocados (per month) on the horizontal axis (Make sure to plot marginal utility at the midpoints between units.) Using the multipoint curve drawing tool, plot each point of the marginal utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. d. Explain why it is reasonable that Brett's utility increases by smaller and smaller amounts for each successive avocado consumed. (Select all that apply)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Second Third Fourth Fifth Sixth Seventh Eighth a. Plot Brett's total utility on a scale diagram, with utils on the vertical axis and the number of avocados (per month) on the horizontal axis. Using the multipoint curve drawing tool, plot the total utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. b. Compute the marginal utility for each avocado and fill in the table. Avocados Zero First Second Third Fourth Zero First Fifth Sixth Seventh Eighth Total Utility (in utils) 0 180 330 440 510 0 180 330 440 510 560 560 590 610 620 590 610 620 Marginal Utility (in utils) c. Plot the marginal utility on a scale diagram, with utils on the vertical axis, and the number of avocados (per month) on the horizontal axis. (Make sure to plot marginal utility at the midpoints between units.) Using the multipoint curve drawing tool, plot each point of the marginal utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. d. Explain why it is reasonable that Brett's utility increases by smaller and smaller amounts for each successive avocado consumed. (Select all that apply.) A. Because marginal utility decreases as each avocado is consumed B. Because total utility decreases as each avocado is consumed C. Because marginal utility increases as each avocado is consumed D. Because total utility increases at an increasing rate as each avocado is consumed E. E. Because total utility increases as each avocado is consumed F. Because total utility increases at a decreasing rate as each avocado is consumed G. Because each successive avocado consumed offers less utility than the one before H. Because each successive avocado consumed offers more utility than the one before otal Utility (utils) Marginal Utility (utils) 650- 600- 550- 500- 450- 400 350 300- 250- 200- 150- 100- 50- 0- 200- 180- 160- 140- 120- 100- 80- 80- 40- 20 0- Quantity of Avocados (per month) Quantity of Avocados (per month) Q Q Q
Transcribed Image Text:Second Third Fourth Fifth Sixth Seventh Eighth a. Plot Brett's total utility on a scale diagram, with utils on the vertical axis and the number of avocados (per month) on the horizontal axis. Using the multipoint curve drawing tool, plot the total utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. b. Compute the marginal utility for each avocado and fill in the table. Avocados Zero First Second Third Fourth Zero First Fifth Sixth Seventh Eighth Total Utility (in utils) 0 180 330 440 510 0 180 330 440 510 560 560 590 610 620 590 610 620 Marginal Utility (in utils) c. Plot the marginal utility on a scale diagram, with utils on the vertical axis, and the number of avocados (per month) on the horizontal axis. (Make sure to plot marginal utility at the midpoints between units.) Using the multipoint curve drawing tool, plot each point of the marginal utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. d. Explain why it is reasonable that Brett's utility increases by smaller and smaller amounts for each successive avocado consumed. (Select all that apply.) A. Because marginal utility decreases as each avocado is consumed B. Because total utility decreases as each avocado is consumed C. Because marginal utility increases as each avocado is consumed D. Because total utility increases at an increasing rate as each avocado is consumed E. E. Because total utility increases as each avocado is consumed F. Because total utility increases at a decreasing rate as each avocado is consumed G. Because each successive avocado consumed offers less utility than the one before H. Because each successive avocado consumed offers more utility than the one before otal Utility (utils) Marginal Utility (utils) 650- 600- 550- 500- 450- 400 350 300- 250- 200- 150- 100- 50- 0- 200- 180- 160- 140- 120- 100- 80- 80- 40- 20 0- Quantity of Avocados (per month) Quantity of Avocados (per month) Q Q Q
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