economics
c) Suppose that the sushi shop offered a deal whereby Christina can buy a five-piece pack for $8. How will Christina allocate her budget, and what will be her total utility now?
Videos: Pieces of sushi: .
Total utility:
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y Problem 5-11 (algo) tina has decided to spend her evening eating sushi and watching videos. Each piece of sushi an...
y Problem 5-11 (algo) tina has decided to spend her evening eating sushi and watching videos. Each piece of sushi and each video costs $2. Hert for the two products is shown in the table below. VIDEO MOVIES SUSHI PIECES Total Marginal Utility 50 Total Marginal Utility umber Utility Number Utility 38 38 50 1 1 68 85 2 2 90 116 3 3 106 136 118 150 122 6 157 6 Complete the marginal utility columns in the table...
Suppose that with a budget of $100, Deborah spends $60 on sushi and $40 on bagels...
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Suppose that with a budget of $200, Deborah spends $120 on sushi and $80 on bagels...
Suppose that with a budget of $200, Deborah spends $120 on sushi and $80 on bagels when sushi costs $2 per piece and bagels cost $2 per bagel. But then, the price of bagels falls to $1 per bagel. Instructions: Enter your answers as whole numbers. a. How many pieces of sushi and how many bagels did Deborah consume before the price change? Pieces of sushi Bagels b. At the new prices, how much money would it have cost Deborah...
economics
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economics
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2. Lisa enjoys apples and grapes. The extent of her satisfaction is revealed by the following...
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The following table indicates Anna's utility from consuming cups of latte and pieces of pastry. Anna has a budget of 52...
The following table indicates Anna's utility from consuming cups of latte and pieces of pastry. Anna has a budget of 52 dollars and latte and pastry cost 4 dollars each. Assuming that Anna spends her full budget on lattes and pastries, fill in the table below and answer the questions that follow: Cups of Latte Pieces of Pastry Quantity Total Utility Marginal Utility MU/dollar Quantity Total Utility Marginal Utility MU/dollar 0 0 0 - 0 0 0 - 1 170 ?...
1. Suppose that the price of oranges is $1 per unit and the price of pencils...
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l. A consumer has €100 of income to allocate between chocolate and soda. Chocolate costs per...
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l. (a) "Utility maximization is achieved when the budget is allocated so that the marginal utility...
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y Problem 5-11 (algo) tina has decided to spend her evening eating sushi and watching videos. Each piece of sushi and each video costs $2. Hert for the two products is shown in the table below. VIDEO MOVIES SUSHI PIECES Total Marginal Utility 50 Total Marginal Utility umber Utility Number Utility 38 38 50 1 1 68 85 2 2 90 116 3 3 106 136 118 150 122 6 157 6 Complete the marginal utility columns in the table...
Suppose that with a budget of $100, Deborah spends $60 on sushi and $40 on bagels when sushi costs $2 per piece and bagels cost $2 per bagel. But then, after the price of bagels falls to $1 per bagel, she spends $50 on sushi and $50 on bagels Instructions: Enter your answers as whole numbers. a. How many pieces of sushi and how many bagels did Deborah consume before the price change? Pieces of sushi Bagels L b. At...
Suppose that with a budget of $200, Deborah spends $120 on sushi and $80 on bagels when sushi costs $2 per piece and bagels cost $2 per bagel. But then, the price of bagels falls to $1 per bagel. Instructions: Enter your answers as whole numbers. a. How many pieces of sushi and how many bagels did Deborah consume before the price change? Pieces of sushi Bagels b. At the new prices, how much money would it have cost Deborah...
2. Lisa enjoys apples and grapes. The extent of her satisfaction is revealed by the following utility schedule: Pounds of Total Pounds of Total Apples Utility Grapes Utility 8 units 1 12þ 15 3 24 a) Compute Lisa's marginal utility for each commodity. b) Assume that the price for both apples and grapes is $2 per pound. Given a budget of $6, how many pounds of each should Lisa buy to maximize her total satisfaction? Show the maximum satisfaction formula...
l. A consumer has €100 of income to allocate between chocolate and soda. Chocolate costs per unit. (a) Suppose when soda costs 4 per unit, the consumer chooses 20 sodas. Draw the budget constraint and indifference curve to represent this budget and choice. (You can assume that the indifferences curves are regular, ie convex to the origin.) Now the company introduces a deal whereby the price falls to є3.00 if the consumer buys more than 20 sodas. So if the...
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