zero First Second Third Fourth Fifth Sixth Second Third Fourth Fifth Sixth Seventh Eighth Seventh Eighth Avocados Zero First a. Plot Brett's total utility on a scale diagram, with utils on the vertical axis and the number of avocados (per month) on the horizontal axis. Using the multipoint curve drawing tool, plot the total utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. b. Compute the marginal utility for each avocado and fill in the table. Total Utility (in utils) 0 180 U 180 330 440 330 440 510 560 590 610 620 510 560 590 610 620 A. Because marginal utility decreases as each avocado is consumed B. Because total utility decreases as each avocado is consumed C. Because marginal utility increases as each avocado is consumed Marginal Utility (in utils) c. Plot the marginal utility on a scale diagram, with utils on the vertical axis, and the number of avocados (per month) on the horizontal axis (Make sure to plot marginal utility at the midpoints between units.) Using the multipoint curve drawing tool, plot each point of the marginal utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. d. Explain why it is reasonable that Brett's utility increases by smaller and smaller amounts for each successive avocado consumed. (Select all that apply)
zero First Second Third Fourth Fifth Sixth Second Third Fourth Fifth Sixth Seventh Eighth Seventh Eighth Avocados Zero First a. Plot Brett's total utility on a scale diagram, with utils on the vertical axis and the number of avocados (per month) on the horizontal axis. Using the multipoint curve drawing tool, plot the total utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. b. Compute the marginal utility for each avocado and fill in the table. Total Utility (in utils) 0 180 U 180 330 440 330 440 510 560 590 610 620 510 560 590 610 620 A. Because marginal utility decreases as each avocado is consumed B. Because total utility decreases as each avocado is consumed C. Because marginal utility increases as each avocado is consumed Marginal Utility (in utils) c. Plot the marginal utility on a scale diagram, with utils on the vertical axis, and the number of avocados (per month) on the horizontal axis (Make sure to plot marginal utility at the midpoints between units.) Using the multipoint curve drawing tool, plot each point of the marginal utility curve on the appropriate graph to the right. Carefully follow the instructions above, and only draw the required object. d. Explain why it is reasonable that Brett's utility increases by smaller and smaller amounts for each successive avocado consumed. (Select all that apply)
Chapter21: Demand: Consumer Choic
Section: Chapter Questions
Problem 1E
Related questions
Question
Transcribed Image Text:Second
Third
Fourth
Fifth
Sixth
Seventh
Eighth
a. Plot Brett's total utility on a scale diagram, with utils on the vertical axis and the number of avocados (per month) on the horizontal axis.
Using the multipoint curve drawing tool, plot the total utility curve on the appropriate graph to the right.
Carefully follow the instructions above, and only draw the required object.
b. Compute the marginal utility for each avocado and fill in the table.
Avocados
Zero
First
Second
Third
Fourth
Zero
First
Fifth
Sixth
Seventh
Eighth
Total Utility
(in utils)
0
180
330
440
510
0
180
330
440
510
560
560
590
610
620
590
610
620
Marginal Utility
(in utils)
c. Plot the marginal utility on a scale diagram, with utils on the vertical axis, and the number of avocados (per month) on the horizontal axis. (Make sure to plot
marginal utility at the midpoints between units.)
Using the multipoint curve drawing tool, plot each point of the marginal utility curve on the appropriate graph to the right.
Carefully follow the instructions above, and only draw the required object.
d. Explain why it is reasonable that Brett's utility increases by smaller and smaller amounts for each successive avocado consumed. (Select all that apply.)
A. Because marginal utility decreases as each avocado is consumed
B. Because total utility decreases as each avocado is consumed
C. Because marginal utility increases as each avocado is consumed
D. Because total utility increases at an increasing rate as each avocado is consumed
E.
E. Because total utility increases as each avocado is consumed
F. Because total utility increases at a decreasing rate as each avocado is consumed
G. Because each successive avocado consumed offers less utility than the one before
H. Because each successive avocado consumed offers more utility than the one before
otal Utility (utils)
Marginal Utility (utils)
650-
600-
550-
500-
450-
400
350
300-
250-
200-
150-
100-
50-
0-
200-
180-
160-
140-
120-
100-
80-
80-
40-
20
0-
Quantity of Avocados (per month)
Quantity of Avocados (per month)
Q
Q
Q
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