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A consumer is trying to maximize their subject to a budget constraint. income health O profits utility Question 2 1 pts Which

Question 3 1F Use the following table to calculate the Marginal Utility from the ninth apple: Number of Apples 0 1 2 3 4 Tota

Question 4 Use the following table to calculate the Marginal Utility from the second apple: Number of Apples 0 Total Utility

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Answer #1

1. utility
(Consumer maximizes his utility given the budget constraint.)

2. d. The more pizza Pete eats, the less he enjoys an additional slice
(It means MU is decreasing.)

3. -8
(MU = Change in TU/Change in Q = (72-80)/(9-8) = -8/1 = -8)

4. 18
(MU = Change in TU/Change in Q = (38-20)/(2-1) = 18/1 = 18)

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