Andy drinks hot chocolate every week throughout the winter. Draw a curve that illustrates Andy's total utility from hot chocolate. Start your curve at the origin and label it. Andy's total utility from hot chocolate depends on OA. his income but not the price of hot chocolate B. the quantity of hot chocolate he consumes OC. the price of hot chocolate but not his income OD. both the price of hot chocolate and his income 100 80- 60- 40- 204 Units of utility Quantity (mugs of hot chocolate per week)

Oolong tea is produced in China and sold in many countries. In the province of Fujian, per 100 grams of Oolong tea sells for 50 yuan. In Kuala Lumpur, per 100 grams of the same Oolong tea sells for RM20. Suppose that the exchange rate is RM0.45 1 yuan. Please do the following calculations based on the above information: 1. How much would it cost in Malaysian currency to buy the tea in Fujian? 2. How much would it cost in China currency to buy the tea in Kuala Lumpur?

39. The following chart shows thec total utility-that Ammar receives from çonşuming various amounts-of chocolate.candy bars each day: Number candy, bars consumed për đay Total'utility 1' 40- 2 70 90 100 4. 80 Which of the following statements about Ammar's marginal utility is correct? Hiş marginal utility from the first candy bar is greater-than his marginalutility from the second candy' bar

The following table shows Ellie's utility from consuming slices of cake and cans of 7- Up. 5- Marginal Utility from Last Slice Slices Cans Marginal Utility from Last Can 4.5- of of Cake 7- Up 4- - 120 100 1 120 3.5- 2 60 3- 80 45 4 60 4 30 2.5- 40 5 20 6. 20 6 15 2- Suppose Ellie has $3 per week to spend on cake and 7- Up and that the price of a slice of cake is $0.50. 1.5- 1- 1.) Use the point drawing tool to plot Ellie's demand for 7- Up at a price of $0.50. Label this point 'A'. 0.5- 0- 2.) Use the point drawing tool to plot Ellie's demand for 7- Up at a price of $1.00. Label this point 'B'. 2 3 4 Quantity of 7-Up 3.) Use the line drawing tool to connect the dots to form Ellie's demand curve. Properly label this line. Carefully follow the instructions above, and only draw the required objects. O -2 3 Price of 7-Up

How does the law of diminishing marginal utility relate to changing income? Select one: a. The marginal benefit of an extra dollar of income rises as income rises. b. The marginal benefit of an extra dollar of income falls as income rises. c. The total utility gained from a small income is higher than the total utility gained from a high income. d. The total utility gained from a high income is higher than the total utility gained from a low income.

Consumer choiceJo buys muffins and cupcakes at a bakery. Jo’s weekly budget for baked goods is $70. The priceof muffins is $1.25. The price of cupcakes is $1.75.a) Write down Jo’s budget constraint: express the quantity of cupcakes as a function of thequantity of muffins.

. Matilda is downloading music and videos from an online site. She is currently buying three music downloads that cost $3 each and two video downloads that also cost $3 each. The table below indicates what she reports as the marginal utility of the last music download and of the last video download in this combination of purchases.      Quantity Price per Download MU per download Music downloads 3 $3 60 Video downloads 2 $3 45   As an assignment for her Microeconomics course, Matilda used the marginal utilities that she gave to her 3rd music download and her 2nd video download to complete the Experiment Tally Sheet below. Her available budget was $19.00.   Downloads of mu (score) from 1 to 100 Price of each $3.00  Money spent on  Downloads of  mu (score) from 1 to 100 Price of each $3.00 Money spent on  Total Money  Total Budget  music mu mu/$ music videos mu mu/$ videos Spent Remaining 1st ? ?…

given the following informationon quantity consumed of cheese and total utility for Carl answer the following can you please help to check my answer. thanks qty (in oz)       tu          mu 1                       50          0 2                       70          20 3                       85          15 4                       95           10 5                       90            5 a) what is the marginal for each addtion ounce of cheese - see above b) at a price of $16 an ounce, how many ounces of caviar should carl purchase to optimize his satisfaction? my answer 2 c) what is his conusmer surplus at this optimal level of consumption? (can you help me solve this I see too many diffrence equation for this very confuse)

Fill in the blanks in the table below Quantity of Total Hamburgers Utility Marginal Utility per Week Hamburgers Hamburgers 1 40 60 76 2 3 4 5 6 91 NSS 40 16 10 Quantity of Movies per Week 2 3 4 5 6 Total Utility Movies OC. 25 400 700 850 950 1,025 Marginal Utility Movies 400 300 O 100 50 25 Assume the price of a hamburger is $2 and the price of a movie is $5, and the consumer's income is $29 If the consumer is in equilibrium, what is the marginal utildy per last dollar spent on movies and hamburgers? OA. 10 OB. 20 OD. 50

The diagram shows Sam's budget line. Which of the following combinations of gasoline and coffee are available to Sam? 40 32 24 16 8 4 8. 12 16 20 24 Coffee (pounds per week) OA. 40 gallons of gasoline and 0 pounds of coffee. B. 32 gallons of gasoline and 4 pounds of coffee. OC. 8 gallons of gasoline and 8 pounds of coffee. OD. 16 gallons of gasoline and 16 pounds of coffee. OE. All combinations except (D) are available to Sam. Gasoline (gallons per week)