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- qty per week Marginal Utility of songs Marginal Utility of Cookies 1 15 25 13 20 3 12 16 4 11 13 10 11 6. 9 10 7 8. 7 8. 6. 7 10 Above is the utility of Sara for song and cookie consumption. If the price of a song is $2 and the price of a cookie is $1, how many cookies and songs will sara consumer? Why?TU TU of MU Qfood food MU food MU/p Drink drinks drinks MU/p 0 0 1 30 2 55 3 75 956 90 100 012345 0 30 57 7 105 106 67 78 93 102 108 111 The marginal utility for consuming the 3rd unit of food is utility for consuming the 5th unit of drinks is ? and the margina 20; 9 75; 102 15;8 There is not enough information to tell O What am I doing in this class? Why don t I know the answer to these? (This is an incorrect answer)25. What does a negative marginal utility means? Why does it happen? Explain.
- how does each consumers indivual consumer surplus changeWhat price ÅSsuming do you line and budget that understand by line? Consumer has income of $180, which monthly he Spends Good' X on two commodities and Grood Y. The price l07 Good $13 and price of the is $24. What would ' be Combinations of Crood X is Various Good Y this combinations line regard? and in and write draw various budget according ly?impacts of marginal utility. Imagine that you are a seller of phones: How can you increase the consumer demand curve by helping increase the marginal utility for consumers? Detail specific steps to take and provide examples.
- Price for good A is $6 and good b is $8. Budget is $36. Good A Good B Quantity Total Utility Quantity Total Utility 1 18 1 32 2 30 2 56 3 38 3 72 4 42 4 80 5 44 5 84 6 3 6 2 7 2 7 1 How many units of the two products will the consumer buy?Hiro's latte and paperback book budget is $20 a week. The price of a latte is $2 and the price of a paperback book is $5. Choose the statement that is correct. O A. When Hiro spends all his budget on paperback books, he must buy fewer than 4 paperback books a week. O B. When Hiro buys 10 lattes a week he cannot afford to buy a paperback book. O C. Hiro cannot afford to buy 5 lattes and 2 paperback books a week. O D. When Hiro buys 10 lattes, he can afford to buy 2 paperback books. Draw Hiro's budget line and label it. >>> Plot the quantity of paperback books on the x-axis. 11- 10- 9- 8- 7- 6- 5- 4- 3+ 2- 1- 0- Quantity (lattes per week) 0 2 3 4 5 6 7 8 9 10 11 Quantity (paperback books per week) >>> Draw only the objects specified in the question. 1The diagram shows Sam's budget line. Sam's budget line shows 40 16 4 8. 12 16 20 24 Coffee (pounds per week) O A. which combinations of gasoline and coffee Sam can afford. B. which combinations of gasoline and coffee Sam is planning to purchase. OC. whether or not Sam thinks gasoline and coffee are worth their prices. OD. whether or not Sam currently has enough gasoline and enough coffee. 32 24 Gasoline (gallons per week)
- Relationship Between the Consumer Demand Curve and Marginal Utility Discuss the impacts of marginal utility. Imagine that you are a seller of sunglasses: How can you increase the consumer demand curve by helping increase the marginal utility for consumers? Detail specific steps to take and provide examples.1. Calculate the marginal utility per dollar for sodas.A friend of yours is off to Paris to eat croissants at Laduree on Rue Royale Croissants Total value. EFTIRER ALLEZ MITS 1 2 3 4 3. Why does she eat more at lower prices? 5 6 7 8 2. How many will she eat at $10? How many at $4? $10.00 $18.50 $25.50 $31.00 $35.00 $37.50 $38.50 $38.00 1. What happens to her total happiness when she eats each additional croissant? Is it increasing/decreasing at an increasing/decreasing rate? Marginal Value
