Marginal utility (MU) = Total utility (TU) / Change in units (Q)
(10) (C)
When Q = 2, TU = 12 + 8 = 20
(11) (A)
When Q = 2, TU = 12 + 8 = 20
When Q = 3, MU = (26 - 20) / (3 - 2) = 6/1 = 6
QUESTION 10 Quantity Consumed Total Utility 12 Marginal Utility 12 1 2 8 3 26 4...
Diminishing Marginal Utility I. TOTAL AND MARGINAL UTILITY DE UTILITY CALCULATIONS Total Utility Quantity Consumed Total Utility Marginal Utility 10 2 3 4 5 6 0 1 Marginal Utility Quantity Consumed 10 Prev 1 of 3 Score answer >
Quantity of Product A Total Utility Marginal Utility Quantity of Product B Total Utility Marginal Utility 1 80 80 1 30 30 2 120 40 2 46 16 3 150 30 3 61 15 4 165 15 4 75 14 5 172 7 5 88 13 6 178 6 6 100 12 7 182 5 7 111 11 8 185 3 8 121 10 The table above refers to Elizabeth's utility schedule of Product A and Product B. The equilibrium...
Physician Visits/year Total Utility Marginal Utility 1 20 ? 2 30 ? 3 34 ? 4 ? 2 5 ? 1 As more physician visits are consumed, marginal utility is: a. Decreasing. b. Increasing. c. Decreasing, then increasing. d. Not changing. e. None of the above.
Total utility curve A Units of utility Total utility curve B Total utility curve C 0 1 2 3 4 5 6 Quantity (tomatoes per month) 11) In the figure above, diminishing marginal utility is shown by A) total utility curve A. B) total utility curve B. C) total utility curve C. D) all three curves. Quantity of Marginal utility skiing from skiing Quantity of Marginal utility skating from skating 1 70 1 2 50 40 30 20 10 30...
Physician Visits/year Total Utility Marginal Utility 1 20 ? 2 30 ? 3 34 ? 4 ? 2 5 ? 1 As more physician visits are consumed, total utility is: a. Decreasing at an increasing rate. b. Decreasing at a decreasing rate. c. Increasing at an increasing rate. d. Increasing at an decreasing rate. e. None of the above.
Total utility curve A Units of utility Total utility curve B Total utility curve C 0 2 3 4 5 6 Quantity (tomatoes per month) 11) In the figure above, diminishing marginal utility is shown by A) total utility curve A. B) total utility curve B. C) total utility curve C. D) all three curves. Quantity of Marginal utility from Quantity of Marginal utility from skiing skiing skating skating 50 1 2 40 70 40 30 20 30 10 12)...
27) Consider the following information Quantity Consumed Candy Bars Apples Total Marginal per WeekityUtility Total Utility Marginal Utility 0 10 18 25 29 31 30 0 15 24 30 32 31 29 a. Complete the columns containing the marginal utilities of each good. b. With unlimited income, a consumer described by the above information would consume candy bars andapples. If candy bars cost 25 cents each and apples are two for a quarter (12.5 cents each) and the consumer has...
Units Consumed Total Utility Marginal Utility 11. Refer to data above. Fill in the numerical value using W,Y, and Y and compute Marginal utility values. To identify where marginal utility becomes negative beginning with the: A. first unit. B. second unit. C. third unit. D. fourth unit.
Question 8 1 pts The following table shows Total Utility data for products Land M. Assume that the price of Lis $2 each and the price of Mis $4 each and that the consumer's income is $24. What quantities of Land M should be purchased to maximize total utility? Units of L 1 1 2 3 4 5 Total Utility 9 15 18 20 21 Units Total of M Utility 16 2 28 3 36 4 40 5 42 4...
Physician Visits/year Total Utility Marginal Utility 1 20 ? 2 30 ? 3 34 ? 4 ? 2 5 ? 1 Based on the table below, when going from 1 to 2 physician visits per year, the consumer's marginal utility is: a. 20 b. 10 c. 4 d. 2 e. None of the above