(1)Unit of Marginal(2)Marginalproduct utility. A utility, B utility, C183936ETTT333027824621FirstSecondThirdFourthFifthSixthSeventh164206Blank 1(3)MarginalBlank 212Blank 310Blank 49Using the above utility schedule:Blank 58If the price of A, B, and C are $2, $3, and $1, respectively, and the consumer has $26 to spend on these threeproducts, what combination of the three products should be purchased in order to maximize utility?7Blank 1 units of the A good.Blank 2 units of the B good.Blank 3 units of the C good.5The total utility of consuming five units of the B good is Blank 4 utils.3The total utility of consuming three untis of the A good is Blank 5 utils.Add your answerAdd your answerAdd your answerAdd your answerAdd your answer

The marginal utility is the additional utility attained from buying an extra unit of the good. It…

Blank 1 units of the A good. Blank 2 units of the B good. Blank 3 units of the C good. The total utility of consuming five units of the B good is Blank 4 utils. The total utility of consuming three untis of the A good is Blank 5 utils.

Blank 1 units of the A good. Blank 2 units of the B good. Blank 3 units of the C good. The total utility of consuming five units of the B good is Blank 4 utils. The total utility of consuming three untis of the A good is Blank 5 utils.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

(1)
Unit of Marginal
(2)
Marginal
product utility. A utility, B utility, C
18
39
36
ETTT
33
30
27
8
24
6
21
First
Second
Third
Fourth
Fifth
Sixth
Seventh
164206
Blank 1
(3)
Marginal
Blank 2
12
Blank 3
10
Blank 4
9
Using the above utility schedule:
Blank 5
8
If the price of A, B, and C are $2, $3, and $1, respectively, and the consumer has $26 to spend on these three
products, what combination of the three products should be purchased in order to maximize utility?
7
Blank 1 units of the A good.
Blank 2 units of the B good.
Blank 3 units of the C good.
5
The total utility of consuming five units of the B good is Blank 4 utils.
3
The total utility of consuming three untis of the A good is Blank 5 utils.
Add your answer
Add your answer
Add your answer
Add your answer
Add your answer

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