The table below shows Cedric's marginal utility for soda and cookies at each quantity. What is his total utility if he consumes 6 soda and 3 cookies? Quantity of Soda Marginal Utility Quantity of Cookies Marginal Utility 1 48 1 39 2 46 2 37 3 44 3 35 4 41 4 32 5 37 5 29 6 34 6 25 7 31 7 22 8 25 8 18 9 18 9 14

The table below shows Cedric's marginal utility for soda and cookies at each quantity. What is his total utility if he consumes 6 soda and 3 cookies? Quantity of Soda Marginal Utility Quantity of Cookies Marginal Utility 1 48 1 39 2 46 2 37 3 44 3 35 4 41 4 32 5 37 5 29 6 34 6 25 7 31 7 22 8 25 8 18 9 18 9 14

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 2QFR

See similar textbooks

Quantity of Soda	Marginal Utility	Quantity of Cookies	Marginal Utility
1	48	1	39
2	46	2	37
3	44	3	35
4	41	4	32
5	37	5	29
6	34	6	25
7	31	7	22
8	25	8	18
9	18	9	14
10	12	10	10
11	5	11	7

Similar questions

The table below shows the total utility from consuming different amounts of Grapefruits. Use the information below to calculate the Marginal Utility for each quantity. Quantity Total Utility 0 0 2 8 10 48 % 116 132 138 Marginal Utility 9-
Calculate marginal utility and marginal utility per dollar for the data provided in the table below: (round to two decimal places) The Price of wine is 3 The Price of Cheese is 0.14 The Consumer's budget for wine and Cheese is 9.69 (WINE) (WINE) (CHEESE) (CHEESE) (CHEESE) GLASSES (WINE) WEDGES OF WINE MARGINAL OF CHEESE TOTAL UTILITY MARGINAL UTILITY MARGINAL TOTAL UTILITY MARGINAL UTILITY UTILITY/dollar UTILITY/dollar 1 70 10 Number Number Number Number 35 160 6 Number 65 Number 225 3 41 Number Number Number Number 4 45 4. 288 Number 61 Number 48 349 The Quantity of Wine this consumer would buy to maximize utility is : Number Number The Quantity of Cheese this consumer would buy to maximize utility is : What is the consumer's Total Utility when optimized : Number
The table below shows Martha’s total utility from burgers and pasta. Suppose that the price of a burger is $4, the price of pasta is $8 a dish, and Martha has $24 a week to spend. Quantity of Burger per week Total utility for Burger MU MU/P Quantity of Dishes Pasta per week Total utility for Pasta MU MU/P 0 0 0 0 1 10 1 20 2 18 2 36 3 25 3 48 4 31 4 56 5 36 5 60 6 40 6 62 a- Conclude whether or not we follow the law of diminishing MU. b- What is optimal combination of Burger and Pasta?
QUESTION 12 The relationship between the marginal utility that George gets from eating a bag of cookies and the number of bags he eats per month is as follows: Bags of Cookies Marginal Utility 1 2 3 4 5 6 20 16 12 8 4 0 George receives 2 units of utility from the last dollar spent on each of the other goods he consumes. If cookies cost $4 per bag, how many bags of cookies will he consume per month if he maximizes utility?
The table below shows total utility for two products. Suppose that the price for product A is $5 and the price for product B is $5. Number of product A Total Utility for A Number of product B Total Utility for B 0 0 0 0 1 140 1 180 2 260 2 340 3 360 3 460 4 440 4 520 5 500 5 540 Given this data, complete the table below: Quantity of A Marginal Utility for A Marginal Utility for A per dollar Quantity of B Marginal Utility for B Marginal Utility for B per dollar 0 0 1 1 2 2 3 3 4 4 5 5
b. The table below shows the total utility associated with the consumption of units of ice cream. Fill in the table by finding the marginal utility for each row: a=35 b- 17.5 <= 10.5 d-8.75 e= -7 Show hint Quantity Total Utility Merginal Utility 1 Does this problem demonierate diminishing marginal utility? A. No B. Yes 2 3 4 5 6 160 195 2125 223 231.75 238.75 4 b C d
through 6. Elapsed time (in minutes) 30 60 90 120 150 Total utility of playing video games 20 45 63 78 83 Answer here 1 Total utility of swimming 40 22666 72 76 76 Jenny spends an average of $3 each hour she plays video games. What is her marginal utility per dollar for the second half hour?
Explain the difference between marginal utility and total utility
Calculate marginal utility and marginal utility per dollar for the data provided in the table below: (round to two decimal places) The Price of wine is 4 The Price of Cheese is 0.58 The Consumer's budget for wine and Cheese is 14.91 GLASSES (WINE) (WINE) WEDGES (CHEESE) TOTAL UTILITY OF WINE TOTAL UTILITY (WINE) MARGINAL UTILITY/dollar MARGINAL UTILITY OF CHEESE 1 60 15 Number Number 144 2 45 55 Number 199 56 Number Number 4 252 65 51 Number 5 303 73 The Quantity of Wine this consumer would buy to maximize utility is: Number The Quantity of Cheese this consumer would buy to maximize utility is: Number What is the consumer's Total Utility when optimized: Number 2 3 3 A 5 (CHEESE) MARGINAL UTILITY Number 11 Number 8 (CHEESE) MARGINAL UTILITY/dollar Number Number Number Number
Learning Journal prompt: For Unit 4 Learning Journal, you will use the marginal utility formula to choose between two products. Catherine is having dinner at the Yellow Restaurant. She wants desert after eating her entree. She is trying to decide between a cookie or a slice of pie. The cost of a cookie is $5 and the cost of a slice of pie is $8. Refer to the Unit 4 Learning Journal Marginal Utility spreadsheet Compute the marginal utility for cookie and slice of pie Compute the marginal utility per dollar What is the utility maximizing choice for a cookie and slice of pie? Explain what the utility maximizing choice means. Discuss how you could use marginal utility to make consumer choices
TABLE 6-3 Chocolate Bars Hot Chocolate Quantity Total Utility Quantity Total Utility 1 15 1 25 30 21 35 40 3 43 4 48 46 48 5 55 Refer to Table 6-3. The table shows Moira's total utility from each chocolate bar and cup of hot chocolate that she consumes. What is the total utility that Moira receives from one chocolate bar and one hot chocolate? 15 20 25 40 4. 3.
The table below contains information about the total utility Jerry gains from coffee and pastries he buys from the coffee shop No of Coffee & Pastries Total utility from Coffee Total utility from Pastries 1 1.50 10 2 2.70 13 3 3.60 15 4 3.60 16 5 2 16.5 Calculate Jerry’s marginal utility from coffee at each number of cups per 2 hours. Does Jerry’s marginal utility from Coffee obey the principle of diminishing marginal utility? Calculate Jerry’s marginal utility from Pastries at each number of hours per 2 hours. Does Jerry’s marginal utility from Pastries obey the principle of diminishing marginal utility? Which does Ahmed enjoy more: his 4th cup of Coffee or his 4th piece of pastries?