Homework Answers
Marginal utility is the change in total utility from consumption of 1 more unit of good.
| Quantity | Total utility | marginal utility |
| 0 | 0 | - |
| 1 | 47 | 47 |
| 2 | 92 | 45 |
| 3 | 122 | 30 |
| 4 | 135 | 13 |
| 5 | 137 | 2 |
| 6 | 120 | -17 |
| 7 | 70 | -50 |
b) MU diminishes with 2nd slice is consumed.
c) MU becomes negative when 6th slice is consumed.
Add Answer to:
Suppose the following table relects the total satisfaction derived from eating slices of para calculate the...
Suppose the following table reflects the total satisfaction (utility) derived from eating slices of pizza. Calculate...
Suppose the following table reflects the total satisfaction (utility) derived from eating slices of pizza. Calculate the marginal utility of each slice of pizza and answer two questions about marginal utility. a. What is the marginal utility of each slice of pizza? Instructions: Complete each of the cells below. Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Total Utility Marginal Utility...
8. Suppose the following table reflects the total satisfaction derived from consumption of pizza slices and...
8. Suppose the following table reflects the total satisfaction derived from consumption of pizza slices and Pepsis. Assume that pizza costs $1 per slice and a large Pepsi costs $2. With $20 to spend, what consumption mix will maximize satisfaction? Quantity consumed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Total units of pleasure from pizza slices Total units of pleasure from Pepsis 47 92 132 166 196 224 251 271 288 303 313...
Suppose your total benefit from eating slices of pizza (value in dollars) is 12x-x2 where x...
Suppose your total benefit from eating slices of pizza (value in dollars) is 12x-x2 where x is the number of slices of pizza Pizza is sold by the slice and costs $2 per slice, and so the total cost of pizza is 2x. g optimization in levels, what is the optimal amount of pizza for you to eat? Your net benefit is maximized at slices of pizza. (Enter your response as an integer.)
Quantity (slices of pizza) Total utility 12) The table above gives Matt's utility from consuming slices...
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...
Marginal Utility Slices of Pizza Total U tility 50 2 90 120 130 137 120 5)...
Marginal Utility Slices of Pizza Total U tility 50 2 90 120 130 137 120 5) In the above table, what is the marginal utility of the fourth slice of pizza consumed? A) 32.5 B) 130 C) 10 D) 120 2 0 Quantity of x 6) Using the above figure, we can conclude that a utility-maximizing consumer will choose to consume the following combination of the two goods: A) N B) J D) K C) M 7) Refer to the...
Marginal utility refers to 16. a. the total satisfaction derived from all the units of the...
Marginal utility refers to 16. a. the total satisfaction derived from all the units of the product consumed. b. the satisfaction that an individual receives from consuming a product. c. the change in satisfaction resulting from consuming one more unit or one less unit of the product. the dissatisfaction that is derived from not using an additional unit of the product. d. 17. For a given market price, Jane can increase her total utility by adding to her purchases of...
16. Marginal utility refers to a. the total satisfaction derived from all the units of the...
16. Marginal utility refers to a. the total satisfaction derived from all the units of the product consumed. b. the satisfaction that an individual receives from consuming a product. c. the change in satisfaction resulting from consuming one more unit or one less unit of the product. d. the dissatisfaction that is derived from not using an additional unit of the product 17. For a given market price, Jane can increase her total utility by adding to her purchases of...
Indicate whether the following statements are True or False e)If Tom's total utility from watching one...
Indicate whether the following statements are True or False e)If Tom's total utility from watching one more minute of television increases but the increase for each additional minute is smaller tha the previous minute,he has diminishing marginal utility f)As a person consumes more and more slices of pizza, the marginal utility of each extra slice diminishes g)A consumer will maximize utility when all income is spent and the marginal utility is equal for all goods h)When Kathryn spends her entire...
Suppose the following table reflects the total satisfaction (utility) derived from eating slices of pizza. Calculate the marginal utility of each slice of pizza and answer two questions about marginal utility. a. What is the marginal utility of each slice of pizza? Instructions: Complete each of the cells below. Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Total Utility Marginal Utility...
8. Suppose the following table reflects the total satisfaction derived from consumption of pizza slices and Pepsis. Assume that pizza costs $1 per slice and a large Pepsi costs $2. With $20 to spend, what consumption mix will maximize satisfaction? Quantity consumed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Total units of pleasure from pizza slices Total units of pleasure from Pepsis 47 92 132 166 196 224 251 271 288 303 313...
Suppose your total benefit from eating slices of pizza (value in dollars) is 12x-x2 where x is the number of slices of pizza Pizza is sold by the slice and costs $2 per slice, and so the total cost of pizza is 2x. g optimization in levels, what is the optimal amount of pizza for you to eat? Your net benefit is maximized at slices of pizza. (Enter your response as an integer.)
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...
Marginal Utility Slices of Pizza Total U tility 50 2 90 120 130 137 120 5) In the above table, what is the marginal utility of the fourth slice of pizza consumed? A) 32.5 B) 130 C) 10 D) 120 2 0 Quantity of x 6) Using the above figure, we can conclude that a utility-maximizing consumer will choose to consume the following combination of the two goods: A) N B) J D) K C) M 7) Refer to the...
Marginal utility refers to 16. a. the total satisfaction derived from all the units of the product consumed. b. the satisfaction that an individual receives from consuming a product. c. the change in satisfaction resulting from consuming one more unit or one less unit of the product. the dissatisfaction that is derived from not using an additional unit of the product. d. 17. For a given market price, Jane can increase her total utility by adding to her purchases of...
16. Marginal utility refers to a. the total satisfaction derived from all the units of the product consumed. b. the satisfaction that an individual receives from consuming a product. c. the change in satisfaction resulting from consuming one more unit or one less unit of the product. d. the dissatisfaction that is derived from not using an additional unit of the product 17. For a given market price, Jane can increase her total utility by adding to her purchases of...
Most questions answered within 3 hours.
-
What taboo subject did Ida B. Wells suggest was consensual
between black men and white women?...
asked 1 minute ago -
You have just been hired by the EPA to help with the new gas
mileage standards...
asked 49 minutes ago -
4) A firm is hit by increases in its wage rate, w.
a) How does this...
asked 1 hour ago -
A square current loop 5.4 cm on each side carries a 510 mA
current. The loop...
asked 3 hours ago -
What are five tips in conducting knowledge assessment/literature
review research? Each of these tips needs to...
asked 3 hours ago -
Antigen presenting cells link innate and adaptive immune
responses. In the theoretical scenario where phagosomes cannot...
asked 3 hours ago -
Dealing with conflict, in my opinion, is a skill and an art. I
believe that those...
asked 4 hours ago -
6. A long straight wire with circular cross section and radius
1.5 cm carries a 1.2...
asked 4 hours ago -
Deacon Corporation has provided the following financial data
from its balance sheet and income statement:
Year...
asked 5 hours ago -
List and discuss at least three variables from everyday life for
which you expect the variable ...
asked 5 hours ago -
A high-pass filter consists of a 1.60 μF capacitor in series
with a 125 Ω resistor....
asked 5 hours ago -
A newly developed artificial intelligence has trouble
distinguishing hand-written numbers from hand-written alphabets.
There are pictures...
asked 5 hours ago