Question 1 Part A Suppose the following data apply to you: Hours of Benefit of Cost to Value of other studying per day studying your body activities given up 3 300 50 100 4 400 70 110 5 490 100 125 6 570 140 145 7 640 190 171 82 700 250 205 9 750 320 247 10 790 400 299 11 820 490 363 12 840 590 441 a. Explain how you make your decision (by thinking on the margin) on the number of hours spent on studying per day. And how many hours will you spend on studying. What is the marginal cost of your choice? What is the marginal benefit? Part B Suppose you can spend your time next year to do one business project, and only one business project, and you can choose only from Projects A, B, and C. The relevant information of these projects are as follows. Project Revenue Expenditure A 500 320 B 450 340 с 400 360 b. c. d. Calculate the following for each project: i) explicit cost, ii) implicit cost, iii) accounting profit, iv) economic profit. Which project would you choose? Explain your decision, especially the decision rule based on which you made your decision. Explain your decisions above using one of the ten principles you have learned in this course.

Drinking five glasses of water consecutively declinesyour utility, why?

Five consumers have the following marginal utility ofapples and pears:Marginal Utilityof ApplesMarginal Utilityof PearsClaire 6 12Phil 6 6Haley 6 3Alex 3 6Luke 3 12The price of an apple is $1, and the price of a pear is$2. Which, if any, of these consumers are optimizingtheir choices of fruit? For those who are not, howshould they change their spending?

9/15/22, 9:52 AM Print Assessment The marginal utility per dollar spent on the last banana consumed is 75. If the price of an apple is $.50, how many apples would Kevin have to consume before he considers purchasing another banana? 7100 2000 199 A C E Number of Apples 2 3 4 5 6 7 6 3 4 QUESTION 3 Total Utility A320 130 180 220 qurum ont 250 270 280 B D 2 5 ob The villu lanipismodi 02.2ai elggs ne to song Cr 081 129T1inU 0136101 023 OTS aslgqA to 19dmul

1s it pessible fes matginal utility tolal to be negative and uwility to be possitive) why orwhy nah 8. no

Rаnϲhеrs ϲаn rаisе еithеr ϲаttlе or shеер on thеir lаnd. What would cause ϲаusе thе suррly of shеер to inscrease? Typed answer please. I ll rate.

741 Ny 7:0 Mond Content X + ultra/courses/_99030_1/cl/outline manipic cempo me manipic accompis. INIU Force Completion. This test can be saved and resumed later. BILLETTE Your answers are saved automatically. * Question Completion Status: QUESTION 1 The goal of the consumer is to maximize the total utility or satisfaction derived from their purchase choices, given the unique budget constraint. To calculate total utility of a given combination of T-shirts and movies, one would use the following approach: O a. For a given combination of T-shirts and movies, survey a group of individuals to determine an average for utils to be assigned to the number of T-shirts and movies. O b. For a given combination of T-shirts and movies, use Google to identify the number of utils associated with the number of T-shirts and movies and thenlum them. O c. For a given combination of T-shirts and movies, assign a number of utils to that combination. O d. Use utils as a measure of utility, assigning a…

Terry decides to increase her work hours from 20 to 25 hour per week.   1. What would be her marginal utility loss from having less leisure time?  2. What would be her marginal utility gain from having additional income?

Terry decides to decrease her work hours from 20 to 10. 1. What would be her marginal utility gain from having additional leisure time?    2. What would be marginal utility loss from less income?

What is the trend of the total utility