Homework Answers
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1) Total utility at 2 shoe pairs = total utility at 1 shoe pair + marginal utility of 1 shoe pair = 35 + 30 = 65
2) Marginal utility of 4th shoe pair = total utility at 4th pair - total utility at 3rd pair = 110 - 90 = 20
3) For cho, increasing her consumption of shoes results in decreasing marginal utility.(as seen from the table.)
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Total, average, and marginal physical product
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3. Total, average, and marginal physical product Undercover World, a book shop, has the following marginal...
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The Table below shows the Total Utility (TU) and Marginal Utility (MU) derived from the consumption...
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2. Total and marginal utility Yakov enjoys drinking milk, since his mother tells him it will make him grow up strong. The following table contains information on Yakov's utility from milk each day. FW in the two missing cells of the table. Milk (Glasses) Total Utility (Utils) Marginal Utility (Utils per glass) 200 210 On the following graph, use the purple points (diamonds symbol) to plat Yakov's total utility (TU) curve if he consumes zero, one, two, three, four, five,...
2. Total and marginal utility Sean enjoys eating ice cream cones. The following table contains information on Sean's utility from ice cream each week. Fill in the two missing cells of the table. Ice Cream Total Utility Marginal Utility (Cones) (Utils) (Utils per cone) 12 10 8 12 2 4 5 6 30 36 40 42 4 2 On the following graph, use the purple points (diamonds symbol) to plot Sean's total utility (TU) curve if he consumes zero, one,...
e. Fill in the following table on the total and marginal utilities ofa certain good, product A. use your results to answer f, g, h, i Quantity of Product A Total Utility Marginal Utility 0 20 1 35 10 4 0 45 6 7 35 -15 8 f.When should a reasonable person stop consuming product A? Explain. g.Graph the total utility and marginal utility together on the same graph. h.Explain the relationship between TU and MU. TU is at its...
3. Total and marginal product Underground Sandwiches, a sandwich shop, has the following marginal product curve (labeled MP) for its hourly production. MARGINAL PRODUCT (Sandwiches per worker LABOR (Workers) When Iwbor increases from three to four workers, total product increases there are no workers Underground Use the orange points (ware symbol) to ple the production function on the following graph. Assume that Sandwiches does not have any output. Note: Plot your points in the order in which you would like...
3. Total, average, and marginal physical product Undercover World, a book shop, has the following marginal physical product curve (labeled MPP) for its hourly production. 20 T 18 AP 16 O 14 12T a 10 MPP。 4 QUANTITY OF LABOR When labor increases from four to five workers, total product increases by ▼ per hour. Use the orange points (square symbol) to plot the total physical product curve (TPP) on the following graph. Line segments ill automatically connect the points....
The Table below shows the Total Utility (TU) and Marginal Utility (MU) derived from the consumption of 10 units of the commodities X and Y. a. Derive a column for the Marginal Utility of x (MU), and a column for the Total Utility of y (TU) b. On separate graphs, plot the Total and Marginal curves for each commodity, placing the panel of the marginal utility curve below the panel for the total utility curve for each commodity saturation and...
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