Miss Coco consumes cheese cake and curry puff. Her consumption yields the following total utility as shown in the given table. Miss Coco has RM52 to spend. Suppose that the prices of cheese cake and curry puff are RM8 and RM4, respectively. Quantity (units) Total Utility Cheese Cake Curry Puff 1 56 32 2 104 60 3 136 84 4 160 104 5 170 116 6 176 126 7 178 134 What is the marginal utility for cheese cake at quantity 5 units
Miss Coco consumes cheese cake and curry puff. Her consumption yields the following total utility as shown in the given table. Miss Coco has RM52 to spend. Suppose that the prices of cheese cake and curry puff are RM8 and RM4, respectively. Quantity (units) Total Utility Cheese Cake Curry Puff 1 56 32 2 104 60 3 136 84 4 160 104 5 170 116 6 176 126 7 178 134 What is the marginal utility for cheese cake at quantity 5 units
Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 3WNG
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- Miss Coco consumes cheese cake and curry puff. Her consumption yields the following total utility as shown in the given table. Miss Coco has RM52 to spend. Suppose that the prices of cheese cake and curry puff are RM8 and RM4, respectively.
Quantity (units) |
Total Utility |
|
Cheese Cake |
Curry Puff |
|
1 |
56 |
32 |
2 |
104 |
60 |
3 |
136 |
84 |
4 |
160 |
104 |
5 |
170 |
116 |
6 |
176 |
126 |
7 |
178 |
134 |
- What is the
marginal utility for cheese cake at quantity 5 units
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