A consumer is spending all of her income and receiving 1000 utils from the last unit of good A and 80 utils from the last unit of good B. If the price of good A is $100 and the price of good B is $20, to maximize total utility the consumer should buy O more of good A. more of good B. O less of good A. more of both goods. O less of both goods.

Q: Table: Marginal Utility per Dollar of M&Ms Quantity (bags) of M&Ms Total utility 6. 1 10 2. 3. 4. 13…

A: Marginal utility refers to the additional utility derived from consuming one more unit of a good. It…

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: Mitchell's money income is $150, the price of X is $2, and the price of Y is $2. Given these prices…

A: Given: Money income=$150 Price of X=$2 Price of Y=$2

Q: Exercise 2: 1. The table below shows the marginal utility of good A, good B and good C for Betty.…

A: Since you have posted multiple parts question, we will solve the first three parts for you. If you…

Q: Explain why it is that as the consumer purchases more of a good, her marginal utility falls while…

A: Utility: - Utility is the satisfaction derived by any consumer by consuming a good or service.

Q: The price of a hot dog is $1, the price of a movie ticket is $,5 and the consumer has $13. A…

A: Optimal choice - It is the best combination of goods which will lead to the best satisfaction of the…

Q: f the price of A, B, and C are $2, $3, and $1, respectively, and the consumer has $26 to spend on…

A: Answer is given below

Q: If the price of Pizzas is $10 per pizza, and Rachel is currently examining purchasing 7 pizzas, she…

A: Quantity of 8th Pizza TU MU 1 18 - 2 34 16 3 48 14 4 60 12 5 70 10 6 78 8 7 84 6 8…

Q: Pants Belts Marginal utility 220 180 140 100 60 Quantity 1 Quantity 1 Marginal utility 85 65 3 3 45…

A: Utility refers to the amount of satisfaction that an individual receives from the consumption of a…

Q: Consumer spends $ 360 per week on two goods, X and Y. Px=$3 and Py= $2. His utility function is U =…

A: Utility function in economics represents the consumer’s preferences for goods and services. It is…

Q: Suppose that Sam allocates his income between milk and cereal. Milk costs $2.50/gallon and cereal…

A: The utility of consumer is maximized when  Marginal Utility of Good X / Price Per unit of Good X =…

Q: lohanna has I =$181 to spend on goods x1 and x2. Her utility function is given by U(21, 2) = 2…

A: Income(M)=$181 U(x1,x2)=2min(ax1,bx2) a=3 and b=5 p1=$10 and p2=$9   The given utility function…

Q: d. Suppose that the prices of beer and wine double, so that px = 4 and is py = 4. If Charles still…

A: As given Utility function is U = 2xy And price level of wine and beer is 4.

Q: Quantity of Quantity of Total Utility Total Utility Soup (cups) Sandwiches 1 40 45 60 2 75 3 72 3…

A: The utility is maximum when the marginal utility per dollar is equal from both goods, marginal…

Q: Quantity X TUx MUX MUX/Px Quantity Y TUy MUY MUy/PY 1 75 96 135 60 72 3 185 50 3. 234 66 4 230 45 A…

A: (c)

Q: 3. If MU,1/Px1 > MU,2/PX2 is the consumer maximizing his utility? Explain how to maximize it if your…

A: The change in total utility because of change in one more unit of consumption is termed as marginal…

Q: Ed is a substitute lecturer. Every day he chooses between how many hours to work (denoted by L) and…

A:

Q: Suppose that a consumer has $200 to spend on two goods: beer and pretzels. The price of beer is…

A: Given; Income of the consumer=$200 Price of beer= $6 Price of pretzels= $3

Q: Q2. When do economists say that a consumer is in equilibrium, what factors can distort the…

A: 2)The phrase "consumer equilibrium" describes a situation in which a consumer is totally satisfied…

Q: TU of Good Y (utils) Units of TU of Good Units of Good X X (utils) Good Y 1 20 19 35 32 3 48 3 40 4…

A: According to the question, given that the table of the utility experienced by good X and Y. in two…

Q: PROBLEM You are choosing between two goods, X and Y, and your MU from each is shown in the table…

A: Marginal utility is the additional fulfillment a consumer gets from having another unit of a decent.…

Q: Peter consumes only chocolate ice cream and vanilla ice cream. He is spending all of his income. His…

A: Utility maximization is a strategic theme whereby people and firms get to attain the highest level…

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

A: Marginal utility(MU) refers to the additional satisfaction that a consumer gets from consuming extra…

Q: Suppose that the price of good A and good B are $3 and $2 respectively. Suppose a consumer is…

A: In a market, when a consumer consumes two products, he will be at equilibrium when the Marginal…

Q: (a) What are the effects of an increase in the price of good A on a consumer’s demand if i) good A…

A: The fluctuations that happen between demand and also the supply-side decides the levels of prices…

Q: Quantity X TUX MUX MUX/Px Quantity Y TUy MUY MUy/Py 1 75 1 96 135 60 72 3. 185 50 234 66 230 45 A 4…

A: Utility refers to the amount of satisfaction received from the consumption of goods and services.…

Q: 1. Isobel consumes positive quantities of both jam and juice. The price of jam is 5 cents per unit…

A: The addition to the total utility derived by an individual when he/she consumes an additional unit…

Q: Imagine a hypothetical consumer is using all of their income on two goods, X and Y. The price of…

A: Given  Price of good X =$2 Price of good Y= $10 Additional units of utility from another unit of…

Q: please show all calculations Draw a budget line with good X on the x-axis and Good Y on the Y axis.…

A: The income effect happens when a price change affects a consumer's real income, whereas the…

Q: 2. Donald derives utility from only two goods, carrots (X) and donuts (Y). His utility function is…

A:

Q: Donald derives utility from only two goods, carrots (X) and donuts (Y). His utility function is as…

A: Utility shows the satisfaction that consumers receive after consuming a good or service. Utility…

Q: The MU/P equalization principle means consumerswill exhaust their expenditure budget sothat, in the…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Monica consumes only goods A and B. Suppose that her marginal utility from consuming good A is equal…

A: Given:  Monica consumes only two goods: Good A and Good B where A is on x axis and B is on y axis.…

Q: Let the following table represents the total utility of a given consumer, in the cardinal utility…

A: Given: Q TUX TUY 1 8 6 2 14 10 3 18 13 4 20 15 5 20 16 6 18 16 7 16 14 Note: Due…

Q: If the price of a soda is $2, the price of a hamburger is $6, and George has $14 of income, George's…

A: Utility is maximized when MUh/Ph = MUs/Ps  where H: Hamburger and S: Soda, and MU = Change in TU /…

Q: A consumer of two goods, either 1 or 2, has a utility function U (X1, X2) = x1 0,6.x2 0.4, where x…

A: Substitution effect says that decrease in price of the good should increase its quantity demanded.

Q: 4. John has a utility for the quantity of sandwiches, Xs, and quantity of burgers, X, that he…

A: John consumes two goods sandwiches and burgers. John's utility function is a function of both…

Q: Hello, can you double-check these answers, please? I already got the answers to these questions but…

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

Q: A5 Suppose Will consumes 5 units of good X and receives 20 utils from the first unit, 18 from the…

A: Total Utility is the sum of utility obtained at each quantity of good X.

Q: » Pauline spends her income in two goods: good r and good y. Her utility function is given by u(x,…

A: The utility of a combination of two goods will be maximized at the point where the budget constraint…

Q: Quantity X (unit) Quantity Y (unit) Ux (util) Uy (util) 1 1 15 12 2 2 26 21 3 35 27 4 4 41 32 5 5 45…

A: Given; Price of Good X= RM2 per unit Price of Good Y= RM1 per unit Income= RM13

Q: 3. Assume a person has a utility function U = XY, and money income of GH¢ 10,000, facing an initial…

A: Given; Utility function; U=XY Income; M= GHc 10000 Price of X= GHc 10 Price of Y= GHc 15 Increase in…

Q: 13. Sylvester has an income of $110 that he spends on two goods: X and Y. The price of a unit of Y…

A: Given; Income; M= $110 Price of Y= $5 Price of first four unit of X= $14 Price after fourth unit of…

Q: Donald derives utility from only two goods, carrots (X) and donuts (Y). His utility function is as…

A: We know that utility Maximization is the sole objective for any consumers  with given price level…

Q: Lynn has a Cobb-Douglas utility function  U(x1, x2) =XaYb   What share of her budget does she…

A: The indifference curve of the consumer shows all the combinations of two goods that provide the same…