Suppose the marginal utiliy of a Coke is 15 utils and the price is $1. The marginal utility of a pizza is 20 utils and its price is $2. If you buy 1 unit each will you achieve consumer equilibrium? If not how can greater total equilibrium be obtained?

Q: The following table shows the total utility gained from the consumption ofFanta Lemon in a week.left…

A: Marginal utility is the additional utility gained from the consumption of one more unit of output

Q: Would you expect marginal utility torise or fall with additional consumption of a good? Why?

A: The utility is something that a consumer gains after consuming a good or a product. It is measured…

Q: Burritos Quantity per week 0 1 2 3 5 6 Total utility 0 21 39 54 63 69 72 Quantity per week 0 1 2345O…

A: Total utility refers to the overall satisfaction or pleasure that a consumer derives from consuming…

Q: Aria consumes only two goods, food and clothing. The marginal utility of the last dollar she spends…

A: Utility means satisfaction.Marginal utility is the utility derived from the consumption of an…

Q: John is maximizing utility when consuming two goods, French fries and hot dogs. If the marginal…

A: Utility Maximization is the situation where a consumer spend his all income on goods that maximise…

Q: Explain the relationship between the law of diminishing marginal utility and the law of demand.

A: Law of demand: It explains an inverse relationship between the quantity demanded and price, keeping…

Q: You are choosing between two goods, X and Y, and your marginal utility from each is as shown in the…

A: Units of X MUX Units of Y MUY MUX/Price of X MUY/Price of Y Total utility of X Total utility of Y…

Q: Suppose Susan has to choose between purchasing high-definition televisions and milk. Which of the…

A: Please find the answer below.

Q: Jerry spends his entire budget on bread and gasoline. His preferences are complete, transitive,…

A: Substitution Effect: This refers to the change in quantity demanded of a good or service as a result…

Q: how a consumer’s equilibrium changes if the price of a product changes according to marginal utility…

A: Marginal utility theory explains how customers make decisions about the consumption of products and…

Q: The MU of the last unit of good A consumed is 4 utils and the MU of the last unit of B consumed is…

A: Utility is maximized when marginal rate of substitution is equal to price ratio of goods. Marginal…

Q: Currently, Paula is maximizing utility by purchasing five TV dinners (T) and four Lean Cuisine Meals…

A: A budget constraint is a fundamental concept in economics that represents the limitations imposed on…

Q: If the marginal utility per dollar is not the same for each good, the consumer could on goods for…

A: Marginal utility implies the extra utility derived from an extra unit of a product.

Q: Consider the figure to the right, and suppose that the initial point is A. Explain why a decrease in…

A: Marginal utility refers to the additional satisfaction or usefulness that a consumer derives from…

Q: Rohan’s current marginal utility from consuming peanuts is 100 utils per ounce and his marginal…

A: Rohan consumes two goods, i.e., peanuts and cashews. Rohan’s current marginal utility from consuming…

Q: Suppose one have a budget of $1000. The price of one unit of X is $20 and the price of one Unit of Y…

A: Thus, the consumer can purchase 50 units of X, or 100 units of Y, or some allocation in between.…

Q: ou are having lunch at an all-you-can-eat buffet. If you are rational, what should be your marginal…

A: 1. What is Marginal Utility?Marginal utility is the fulfillment or advantage you gain from devouring…

Q: Suppose you are consuming two goods, A and B. Your marginal utility from good A is 40 while your…

A: "Since you have posted multiple questions, I can only answer the first question, rest you need to…

Q: What is the law of diminishing marginal utility for consumers, what is the learning curve of a…

A: Marginal utility for consumers is defined as the additional utility derived by the consumer from the…

Q: What do you understand by price line and budget line? Assuming that a consumer has a monthly income…

A: Budget Line(BL) shows all of the possible combinations of two goods that a consumer can purchase,…

Q: While discussing the choice bundle of a consumer, differentiate between Boundary Optimum and…

A: With an interior optimum the consumer chooses a basket that contains positive quantities of all…

Q: Consumer spends $450 per week on two goods, X and Y. PX= $5 and PY=$3. His utility function is U=…

A: Consumers behavior is inclined towards utility maximization, whereas producers behavior is inclined…

Q: please help

A: Consumer equilibrium condition: Slope of Indifference Curve = Slope of Budget Line Marginal Rate of…

Q: The table below shows the marginal utility from consuming mini pizzas and sodas. If pizzas and soda…

A: Given: The price of mini pizza is = $1 The price of soda is = $0.50 The total amount to spend is =…

Q: 11) A consumer's preferences for food (F) and clothing (C) are given by U(F,C) = F0.2C 0.8. The…

A: The consumer equilibrium is the point where the slope of budget line is equal to the slope of the…

Q: Explain three assumptions about the properties of consumers’ preferences.

A: Consumer preferences are defined as the tastes of people which is measured through utility. Consumer…

Q: a. If your income is $18.00 and the prices of X and Y are $4.00 and $2.00, respectively, what…

A: As per the Bartleby answering policy you have posted multiple questions so only the first question…

Q: Explain the law of marginal utility. What is its importance in understanding the preference of…

A: Utility refers to the usefulness or value of a product or service to a consumer. It can also refer…

Q: Bridget has a limited income and consumes only wine and cheese; her current consumption choice is…

A: What is Utility? Utility is a term used in economics to describe satisfaction or happiness. When…

Q: Total utility is the addition of all the marginal utilities that an individual derives from…

A: The want satisfying power of a commodity is called utility. As per Marshallian theory of consumer,…

Q: Consider the figure to the right, and suppose that the initial point is A. Explain why a decrease in…

A: The approach proposed in the question is based on consumer theory, namely the Law of Demand and the…

Q: According to the table, what is the consumer equilibrium for a $6 budget if the price of red peppers…

A: Marginal utility means that measures the additional satisfaction or benefit derived from consuming…

Q: What is the law of diminishing utility? Explain with proper example.

A: The want satisfying power of a commodity is referred to as the utility.

Q: Define marginal utility and Provide an argument why to maximize total utility of good x and good y,…

A: The want satisfying power of a good is termed as the utility. The summation of utility derived from…

Q: PLEASE HELP ME ANSWER IT AS FAST AS YOU CAN   Dalal consumes only two goods for lunch and dinner:…

A: Note: Since the question contains more than three subparts, we are going to answer first three…

Q: Other things being equal, would a consumer optimum change if the prices of all items consumed rise…

A: A consumer optimum lies at the consumption bundle for which the consumer's utility gets maximized…

Q: How does a consumer’s optimal choice of goods change if all prices and the consumer’s income double?

A: If prices and consumer’s income will be double then there is no effect in budget constraint and it…

Q: The following table shows the amounts of additional satisfaction (marginal utility) that Ross would…

A: Utility is defined as the usefulness or the satisfaction a consumer derives from a good or service…

Q: Dalal consumes only two goods for lunch and dinner: risotto (R) and lamb machboos (M). Dalal’s…

A: ***Since the student has posted a question with multiple subparts, hence, the expert is required to…