A consumer has a choice of spending $20,000 on a Honda or $14,000 on a Kia. She was observed buying a Kia during the weekend. Does this mean the consumer prefers the Kia to the Honda? Explain your answe

Q: Bamian Matthews is busy. He allocates his free time between watching movies and working out at the…

A: Marginal utility is the additional utility gained in total utility when one extra unit is consumed.…

Q: . Complete the table below to show John's marginal utility for each Coke.   Instructions: Enter…

A: Marginal utility is the addition to the total satisfaction a consumer gets after consuming an…

Q: Lee has calculated her marginal utility from buying pizza slices and soda (shown on the table in the…

A: The price of pizza is $2.00 The price of soda is $2.00

Q: When X=2 and Y=5 Mu of X=10 and MU of Y=20 if Price of X is 2 and Price of Y is 4 and income is 30…

A: Answer: Introduction: The consumer maximizes his/her utility when the following condition satisfies:…

Q: The table shows Wanda's total utility from ice cream and nuts. Ice Cream Nuts The price of an ice…

A: Total utility is the total satisfaction derived from consuming the good. Marginal utility is the…

Q: Jeffrey's marginal utility from consuming sushi is the when he eats 1) change in his total utility;…

A: Marginal Utility:- The additional pleasure a individuals receives from possessing one additional…

Q: Five consumers have the following marginal utility of apples and pears: The price of an apple is $1,…

A: Utility refers to satisfaction. The aim of a typical rational consumer is to maximize the utility…

Q: Answer the question based on the table below showing the marginal utility schedules for product X…

A: Utility-maximizing combination: A firm maximizes its utility combination where the marginal utility…

Q: The following table shows Madison's utility, from consuming popcom and Coke: Suppose that Madison…

A:

Q: The table below shows the total utility and marginal utility for ice cream consumption. The value…

A: Utility refers to the satisfaction derived by the consumer from the consumption of a good or…

Q: 5.1) Jane has RM500 a week to spend on clothing and food. The price of clothing is RM25 and the…

A: 5.1) The budget line equation can be written as follows:

Q: The following table shows Ellie's utility from consuming slices of pie and cans of Dr. Pepper. 5-…

A: The demand curve is the willingness and the ability of a consumer to buy a commodity at a different…

Q: At a certain pizza shop, a single customer could order a pizza dine-in for $12 but he could get a…

A:

Q: Praxilla, who lived in ancient Greece, derivesutility from reading poems and from eating…

A: The utility can be defined as the total satisfaction that the consumer gets when they consumer goods…

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: satisfaction that we get from the consumption of goods and services is called utility. Use a utility…

A: Utility graph shows the total utility with the consumption of the units consumed.

Q: Tanya has a budget of £21 to spend on toothbrushes and tooth paste. she does not receive any utility…

A: Answer - Given in the question - Income = 21 Price of Tooth paste = 5 Price of Tooth Brush = 1  Need…

Q: Quarts of ice cream Total utility from ice cream 0 0 1 80 2 150 3 210…

A: We are authorized to answer one question at a time, since you have not mentioned which question you…

Q: Market Demand Curve 12 Quenty Demanded Fon Nam Markat Demand Price 10 Yeg Som Gob Yam 10 2. 4. 4. 1.…

A: Answer: Correct options: (C) The 5th unit of the good Fon consumes is worth less than $6 to her. and…

Q: TABLE 6-1 Quantity (burgers) Total Utility Marginal Utility 0. 1 20 20 44 24 3 22 4. 84 y Refer to…

A: The additional satisfaction that a consumer receives from having one more unit of a good or service…

Q: Question 33 According to the law of diminishing marginal utity marginal utility of a good decines as…

A: Marginal utility refers to the value of additional utility that derived from the consumption of one…

Q: There are only two brands of tennis balls Tom purchases: "Wilson" and "Penn." The more he purchases…

A: Here, Tom purchases two types of balls that are "Wilson" and "Penn." Tom can maximize his utility by…

Q: Bob budgets $12 a week for entertainment. He splits his time between going to the movies and going…

A: Given: Bob budget=$12Price of Movie=$3Price of gym=$3Bob wants to maximize his utility and utility…

Q: Mylie’s total utility from singing the same song over and over is 50 utils after one repetition, 90…

A: Marginal utility is nothing but the additional utility after consuming each additional unit of good.…

Q: Jeremy is deeply in love with Jasmine. Jasmine lives where cell phone coverage is poor, so he can…

A: People's choices about products and services are referred to as consumer choice .Consumer choice…

Q: Paul has been babysitting for a family friend over the summer. In total, he has earned $200. Assume…

A: Marginal utility refers to the additional utility that obtained due to increasing the consumption by…

Q: The first unit of the good that Ying consumes is worth $1 to her. O The 4th unit of the good Som…

A: In order to answer this question, we analyse each of the options separately.

Q: A consumer has a choice of spending $20,000 on a Honda or $14,000 on a Kia. She was observed buying…

A: The budget line of the consumer shows the different combinations of two goods that a consumer is…

Q: Mylie’s total utility from singing the same song over and over is 50 utils after one repetition, 90…

A: Marginal utility (MU) = Change in total utility (TU) / Change in number of repetitions (Q) When Q =…

Q: Refer to the table below. If the subscription price for a sports app is $2 per week, the…

A: Given,The subscription price for a sports app Ps is $2 per week.The subscription price for a game…

Q: QUESTION 12 The tables below represent the utility that Bill receives from consuming widgets and…

A: Since you have asked multiple questions, we will be answering the first one, if you need an answer…

Q: You love golng to the movles. For your birthday, your friend offers to take you to a triple feature…

A: Total Utility is the overall satisfaction derived by consuming all the units of given good.  Given:…

Q: Rubyhas just finished her economics exam and must decide whether to spend two hours going to the…

A: Given the marginal utility of beauty parlor = 36 utils Marginal utility from pizza = 24 utils…

Q: a. Use the table below and fill in the values for marginal utility.   Hot Dogs and Biff's Utility…

A: Total utility is the total satisfaction after consuming multiple numbers of units of a particular…

Q: The first slice of pizza yields Ali 18 units of utility and the second yields him an additional 12…

A: Marginal Utility is the additional utility when we consume one more additional units , so here we…

Q: Jeremy is deeply in love with Jasmine. Jasmine lives where cell phone coverage is poor, so he can…

A: Since you have asked multiple questions, we will solve first question for you. If you want any…

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

A: Diminishing marginal utility means when a consumer consumes a good then marginal utility derived…

Q: Explain through the optimal choice of a person how their individual demand function arises. Use an…

A: Demand  Demand is the amount of a commodity that consumers are willing to purchase at various…

Q: Quantity of Cheese Cakes (slices per day) Total Utility (TU) Marginal Utility (MU) 1 20   2…

A: The marginal utility can be defined as the additional utility that is received from the consumption…

Q: Diminishing Marginal Utility. Explain the law of diminishing marginal utility Discuss an instance…

A: The idea of marginal utility is used to measure how individuals' satisfaction levels affected their…

Q: Alex has $18 per week in his entertainment budget. He splits his time between going to the movies…

A: The utility is maximum by buying the good with higher marginal utility per dollar up to the budget…