Total utility (2 pizzas per week)=55
Total utility (6 pizzas per week)=105
Total utility (7 pizzas per week)=100
Marginal utility(2 pizzas per week)=55-30=25
Marginal utility(6 pizzas per week)=105-100=5
Marginal utility(7 pizzas per week)=100-105=-5
You should not eat 7th pizza per week because Marginal utility will be negative at 7th pizza
the optimal amount of pizzas to eat per week=6 pizza at total utility is highest
What’s the Total utility consuming two pizzas per week? What’s the Total utility consuming six pizzas...
oncept: Equal MU per Dollar 1 The following table shows William's utility from consuming slices of cake and cans of Coke Total Utility from Cake Marginal Utili from Last Slice … : Coke tyCans ofTotal Utility Slices of Cake Marginal Utility from Last Can from Coke 36 30 24 30 30 25 20 15 10 36 2 90 108 120 126 75 90 100 105 12 6 5 Suppose William has $8.60 per week to spend on cake and Coke....
The following table shows David's utility from consuming pizza and Diet Coke. Suppose pizza costs $3.00 per slice and Diet Coke costs $1.00 per can. Quantity Marginal Utility for Pizza Marginal Utility for Diet Coke 90 60 70 50 30 10 3 14. What is David's marginal utility per dollar spent at a quantity of 2 slices? 15. Suppose David has $13 to spend on Pizza and Diet Coke. What bundle of goods should he consume to maximize his utility?
Quantity (slices of pizza) Total utility 12) The table above gives Matt's utility from consuming slices of pizza. As Matt consumes m m consuming slices of pizza. As Matt consumes more slices of pizza, he A) obtains greater amounts of marginal utility. B) has diminishing total utility. C) has diminishing marginal utility. D) obtains less total utility. 13) When total utility is at a maximum A) marginal utility is zero. B) marginal utility is equal to total utility. C) marginal...
Lisa spends all her income on pizzas and soda. The table below shows Lisa's marginal utility for pizza and marginal utility for soda. If the price of pizza is $10, the price of soda is $5, and Lisa has $40 to spend on the two goods, what combination of pizza and soda will maximize her utility? Please show your answers in your table by circling the equilibrium marginal utility per dollar for the two goods and units of pizza and...
2. Total and marginal utility Cho enjoys buying shoes. The following table contains information on Cho's utility from shoes each month. Fill in the two missing cells of the table. Total Utility Marginal Utility Shoes (Pairs) (Utils) (Utils per pair) 0 0 35 1 35 3а 2 25 3 90 4 110 15 5 125 10 6 135 On the following graph, use the purple points (diamonds symbol) to plot Cho's total utility (TU) curve if she consumes zen one,...
Reference: Ref 6-15 Bottled Water Quantity Total Utility Bags of Chips Quantity Total Utility 1 2 40 70 90 100 106 60 90 105 114 120 2 4 4 29. (Table) In the table, assume that a consumer has a budget of $12, water costs $2 per bottle, and chips cost $3 per bag. When utility is maximized, the MUIP for both goods is: A) 20 B) 5 C) 3. D) 10. 30. Suppose you have $100 to spend on...
Number of Dinners Out per Week Total Utility 100 Marginal Utility 235 250 4. Refer to the figure above. The marginal utility of the 3rd dinner is 160 75 60 135
Suppose Basil is maximizing his utility from consuming tea and crumpets. If the marginal utility of the last cup of tea was 24 units of utility and that of his last crumpet was 6 units of utility, which of the following is true? The price of tea is six times the price of crumpets The price of crumpets is four times the price of tea The price of tea and crumpets are equal The price of tea is four times...
Utility Max.docx Page 3 of 3 Yaomin is an aficionado of the true baseball experience. Every week during 2. baseball season, he budgets $128 for the game and hot dogs. Assume the price of a hot dog is $2.00 and the price of a baseball game is $60.00. Given the information below about Yaomin's preferences for hot dogs and baseball games, determine his optimal choice of games and hot dogs for each week of the baseball season. Show your work....
10.1 Utility Maximization Question Fday, Ap 313es PM Each week, Jen likes to drink coffee and eat bagels in the morning either at work or at home on the weekends. Figure 1 lists the total utility that she receives at each quantity of cups of coffee and bagels, respectively. Additionally, Jen has a weekly budget of $12 to spend on consuming cups of coffee and bagels (and she always spends her whole coffee/bagel budget otherwise she gets grumpy!). The current...