Peter pays $9.99 for an all-you-can eat pizza buffet. How would you predict the number of...
Peter pays $9.99 for an all-you-can eat pizza buffet. How would you predict the number of pizzas that Peter will eat using utility theory?
Homework Answers
According to utility theory ,as the consumption consumption Rises the utility for every next pizza will decrease as compared to previous one .
It is expressed in marginal utility .
so when Peter $9.99 in a pizza Buffet then firstly his utility will be highest but it will decrease as the consumption of Pizza increases by the Peter
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