Economics Economics questions and answers. If at a quantity consumed of 1 unit, total utility equals 25 and marginal utility equals 25, and at a quantity consumed of 2 units, total utility is unknown and marginal utility is 20, and at a quantity consumed of 3 units, total utility is 57 and marginal utility is unknown, what is marginal utility
Finalanswer. Coffee and Sam's Utilitv Cups of Coffee Total Utility (utils) Marginal Utility (utils) 20 35 47 2 61 Tea and Sam's Utility Cups oif Tea Total Utility (utils Marginal Utility utils 12 20 26 30 35 b. What is Sam's total utility if he consumes 4 cups of coffee and 3 cups of tea? utis C. Suppose Sam consumes an additional cup of tea.
Sincemarginal utility is an increase in utility divided by an increase in oranges, it is measured in utiles per orange. That is why Figure 4-1 has two different vertical axes, marked off in different units. Both marginal utility and total utility depend on quantity of oranges, so both have the same horizontal axis.
Relationshipwith Marginal Utility. One characteristic of marginal utility is that for every successive quantity of a particular good consumed, it always declines. The total utility starts declining when marginal utility becomes negative. If you like ice cream and eat it, the first scoop will satisfy you the most.
ExpertAnswer. She buys 6 pieces of shortbread marginal utility per dollar . The table shows Jennifer's marginal utility from tea and shortbread. Jennifer has $5.00 to spend each day on tea and shortbread. The price of tea is $1.00 a cup and the price of shortbread is $0.50 a piece. When Jennifer maximizes her total utility, she buys pieces
. 354 199 44 139 9 230 221 478
what is total utility and marginal utility
