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- 1. How would a fresh produce vendor at the farmers' market create the four types of utility (form utility,. place utility, time utility, and possession utility)?4 Which of the following are ways to improve study habits? Select one: a. Familiarization b. Active reading c. Take notes d. All of the above2.Answer the question.
- 1. Explain the decisions taken for an individual product.ADDED DISCUSSION WITH QUESTIONS TOPIC: MARGINAL UTILITY 5 6 7 No. of Pieces Total Utility (Q) 1 2 3 4 (TU) 150 225 250 220 8 9 10 11 Marginal Utility is calculated using the formula given below 12 Marginal Utility (TU-TU)/(Q-Q) 13 14 D For 1 Piece For 2 Piece For 3d Piece (86-0)/(A6-0) -(87-86)/(A7-A6) 150 75 (88-87)/(AS-A7) 25 Marginal 15 Utility Formula 16 Marginal Utility 17 For 1st Piece of the Cake Marginal Utility1 = (150-0)/(1-0) Marginal Utility1 = 150 For 4th Piece (89-88)/(AS-AS) -30 For 2nd Piece of the Cake Marginal Utility2=(225-150)/(2-1) Marginal Utility2 = 75 For 3rd Piece of the Cake Marginal Utility3 = (250-225)/(3-2) Marginal Utility3 = 25 For 4th Piece of the Cake Marginal Utility4 = (220-250) / (4-3) Marginal Utility4 = -30 Therefore, here we can see how the marginal utility of a piece of cake declines after the consumption of the previous one. Here, the highest utility is reached at the consumption of the 3rd piece, beyond whichthe total declined. This is a…4. If TC = 12q 12q? +32g + 32 and have a budget of 100000$, how many units we can produce and stay below our budget? (Excel)
- Week Eight Discussion 1. Describe some of the different types of budgets. What are the advantages of budgeting? 2. Ken Shilov, manager of the marketing department, tells you that "budgeting simply does not work." He says that he made budgets for his employees in the past, however they were unable to stay within their budgeted goals. Suggest how Mr. Shilow could address this situation in order to achieve budget success.Which of the following defines marginal utility? a. the maximum amount of satisfaction from consuming a product b. the change in total utility divided by the price of a product c. the total satisfaction received from consuming as much of the product that is available for consumption d. the additional satisfaction received from consuming one more unit of a productWhile deriving consumer's equilibrium, what is given? (a) Income of the consumer (b) Price of the commodities (c) Both income and price (d) None of the above Qy|
