Which of the following goods is likely to provide both the largest total utility and the smallest marginal utility? (A) Plastic (B) (C) Computers (D) (E) Air Automobiles Spam
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- how do you find the marginal utilities of the goods with the information provided?Explain the four kinds of utility.Lee has calculated her marginal utility from buying pizza slices and soda (shown on the table in the worksheet) and wants to use these data to decide how to rationally spend the money she has. The price of pizza is $2.00 and the price of soda is $2.00 question 9 (a) given these prices and your worksheet calculations, what is the first product lee will buy? (b) would lee ever buy four slides of pizza? Why/why not? question 10Given the data in your worksheet, how many pizza slices and sodas lee should buy to maximize her total utility if she rationally spends her budget of 10.00? question 11 when the price of pizza changes, lee's MU/$P changes. If the price of pizza decreases to $1.50 and her budget decreases to $7.50, how many pzza slices and sodas lee should buy to maximize her total utility?
- 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)?Elapsed time (in minutes) 30 60 90 120 150 Total utility of playing video games 20 45 63 78 83 40 62 72 76 76 Total utility of swimming ▸ Jenny pays $5 per hour to use the local swimming pool. What is her marginal utility per dollar for the first half hour of swimming?would you rather maximize your total utility or your marginal utility?
- True/False Marginal utility refers to the satisfaction or pleasure that occur due to the additional consumption of one more unitqty 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?25. What does a negative marginal utility means? Why does it happen? Explain.
- What are the 4 forms of utility? And explain what each one is.Evaluate your marginal and total utility of consuming at an all you can eat pizza buffet. Explain when you could determine when you should stop consuming using the concept of marginal analysisimpacts 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.