Given the data in the below table, income of $13, a price of $1 for a gallon of gasoline and $2.00 for a pizza. (MU is marginal utility)Quantityof GasolineMU ofGasolineMU of Gasolineper dollarQuantity ofPizzaMU ofPizzaMU of Pizzaper dollar135351301522525218-31616317-41010410-55558-64467- Complete the tablechoose the quantity of gasoline and the quantity of pizza that will maximize the consumer's total utility. what is the marginal utility per dollar spent on the fifth hamburger? Quantity of gasolineMarginal utility from gasolineQuantity of hamburgersMarginal utility from hamburgers13512022521831631741041055586467 Given the data in the above table, income of $13, a price of $1 for a gallon of gasoline and $2.00 for a hamburger, what is the marginal utility per dollar spent on the fifth hamburger?

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Answered: Given the data in the below table,…

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 3SQP

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Given the data in the below table, income of $13, a price of $1 for a gallon of gasoline and $2.00 for a pizza. (MU is marginal utility)

Quantity of Gasoline	MU of Gasoline	MU of Gasoline per dollar	Quantity of Pizza	MU of Pizza	MU of Pizza per dollar
1	35	35	1	30	15
2	25	25	2	18	-
3	16	16	3	17	-
4	10	10	4	10	-
5	5	5	5	8	-
6	4	4	6	7	-

Complete the table
choose the quantity of gasoline and the quantity of pizza that will maximize the consumer's total utility.

what is the marginal utility per dollar spent on the fifth hamburger?

Quantity of gasoline	Marginal utility from gasoline	Quantity of hamburgers	Marginal utility from hamburgers
1	35	1	20
2	25	2	18
3	16	3	17
4	10	4	10
5	5	5	8
6	4	6	7

Given the data in the above table, income of $13, a price of $1 for a gallon of gasoline and $2.00 for a hamburger, what is the marginal utility per dollar spent on the fifth hamburger?

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