Q1. a) Complete the table below: Quantity of Cheese Cakes (slices per day) Total Utility (TU) Marginal Utility (MU) 1 20   2 36   3 48   4 55   5 50     i) After how many slices do you get bored of Cheese cakes? ii) After how many slices do you feel sick? b) Using the values from the above table, “Plot” (on separate graphs) i) Total Utility  ii) Marginal Utility graphs

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A: There are two goods, i.e., sandwiches and sodas. Bobby eats 2 sandwiches and drinks 3 sodas.…

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A: C is the correct option and describes the principle of marginal utility.

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A: The diagram is shown in the next step.

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A: Budget line shows graphically the possible combinations of two goods which a consumer can purchase…

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A: Marginal utility is the additional utility that is derived by consuming an additional unit of the…

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A: Hi, thank you for the question. As per the guidelines, we are allowed to attempt only first…

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Q: example of Diminishing Marginal Utility and briefly explain why?

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