Instructions: Move the slider at the bottom of the diagram to change the quantity consumed for all the available quantities on the to utility and marginal utility graphs. a) For the utility function above, if the price of the good is $4, what is the Marginal Utility per Dollar for the fourth unit consumed? 10 utils. b) For the utility function above, if the price of the good is $2, what is the Marginal Utility per Dollar for the second unit consumed? 22 utils. c) Would a rational consumer consume the eighth unit if it was free? No

Instructions: Move the slider at the bottom of the diagram to change the quantity consumed for all the available quantities on the to utility and marginal utility graphs. a) For the utility function above, if the price of the good is $4, what is the Marginal Utility per Dollar for the fourth unit consumed? 10 utils. b) For the utility function above, if the price of the good is $2, what is the Marginal Utility per Dollar for the second unit consumed? 22 utils. c) Would a rational consumer consume the eighth unit if it was free? No

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 3SQP

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Elapsed time (in minutes) 30 60 90 120 150 Total utility of playing video games 20 45 63 78 83 Total utility of swimming 40 62 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?
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DmISIIng Margifal Otmty n. TOTAL AND MARGINAL UTILITY Reset E UTILITY CALCULATIONS Total Utility Quantity Consumed Total Marginal Utility 70 Utility 60 50 22 40 1 22 30 18 20 40 10 14 2 3 4 54 Quantity Consumed 10 Marginal Utility 4 64 20 6. 10 70 3. 6. -10 6. 72 -20 -2 7 70 Quantity Consumed Quantity Consumed -6 8. 64 8 Prev 1 of 3 Score answer > ...
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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?
Total utility (utils) 0 80 120 148 160 155 Quantity consumed per day 0 1 2 3 4 5 As shown in Exhibit above, the marginal utility for the second unit consumed is