Ans :- option 3) Marginal utility
Marginal utility is type of benefit when consumer receive an additional unit on consuming of good and services.
Ex:- if you are buying two pen on shop but 2nd pens Price has little added. So it the marginal utility.
is the additional utility a person receives from consuming an additional unit of a good. The...
True or False: If the additional satisfaction derived from consuming a good rises with every additional unit consumed, then we can say that the marginal utility of the good is increasing.
Utility is the measure of 0 the relative satisfaction, enjoyment, or contentment a person receives from consuming a good or service. O surplus lost by producers when taxes are introduced to the market. O surplus lost by consumers when taxes are introduced to the market. O the satisfaction all consumers should receive from consuming a good or service
Problem . Apu receives utility from consuming X and Y. The price of good X is S2 and the price of good Y is S6. Apu's income is S12 (a) Graph Apu's budget constraint (b) If Apu's utility function is U(X, Y)-X+4Y, how much X and Ywill he buy? (e) How will your answer change if U(X, )-X + 3Y?
Part 1: Find the marginal utility of an additional unit of good x for a consumer with utility function when their current consumption level is and Part 2: Find the marginal rate of substitution between goods and for a consumer with utility function when their current consumption level is and u (z, y) x-y- 2 = 16 We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe...
Question 1 2 pts Utility is a hypothetical measure of satisfaction one receives from consuming a good/service. True False Question 2 2 pts The graph below shows a budget line for someone purchasing cupcakes and tutoring. cupcakes (number of) tutoring (hours) What could cause the inward pivot? income increases income decreases the price of cupcakes increases the price of tutoring increases Question 3 2 pts What would cause the budget line to shift inward in a parallel manner? income increases...
The utility that Julie receives by consuming food F and clothing C is given by U(F, C) = FC. For this utility function, the marginal utilities are MUF = C and MUC = F. a) On a graph with F on the horizontal axis and C on the vertical axis, draw indifference curves for U = 12, U = 18, and U = 24. b) Do the shapes of these indifference curves suggest that Julie has a diminishing marginal rate...
3.10. The utility that Julie receives by consuming food F and clothing C is given by U(F, C) = FC. For this utility function, the marginal utilities are MUF = C and MUC = F. a) On a graph with F on the horizontal axis and C on the vertical axis, draw indifference curves for U = 12, U = 18, and U= 24. b) Do the shapes of these indifference curves suggest that Julie has a diminishing marginal rate...
3. Suppose your utility function (e. level of satisfaction from consuming a and b) is given by U(a, b)=a 1/32/3 where a represents apple and b represents banana. Your total income is $500. The price of apple is $5 and the price of banana is $10. (a) Write your Budget Constraint (BC). What is the Marginal Rate of Transformation? (b) Find the Marginal Rate of Substitution. (c) Find the consumption combination of bananas and apples that maximizes your utility given...
Question1 1 pts Find the marginal utility of an additional unit of good a for a consumer with utility function u (x, y) yi when their current consumption level i 2 and y 16. HTML Editor
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...