(a) In Figure 4.3, which box of popcorn first shows diminished marginal utility? (i) Total utility (ii)...
Question:
(i) Total utility
(ii) Marginal utility
(b) In the cartoon "You can have too much of a good thing," which pizza slice first yields negative marginal utility?
Transcribed Image Text:
Decline in total utility Rising total utility 3 4 5 QUANTITY OF POPCORN (boxes per show) TOTAL UTILITY (utility per box) 2. Diminishing marginal utility Negative marginal utility 0 1 2 3 4 5 QUANTITY OF POPCORN (boxes per show) MARGINAL UTILITY (utility per box)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
a The second box b The sixth slice Explanation a The second box of popcorn provides less util...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
How is it possible that an entity can have too much cash?
-
Assume you are a consultant to Freds Sticks, a golf club manufacturer that sells its clubs directly to customers on the Web. Review Figure 4-3, which describes how advertisers select television...
-
Name five products for which the upward pull strategy shown in Figure 4-3 would be appropriate. Name five for which it would be inappropriate. Justify your answers.
-
Kim and Kanye have been dating for years and are now thinking about getting married. As a financially sophisticated couple, they want to think through the tax implications of their potential union....
-
Consider the real finite-length sequence x[n] shown in Figure. (a) Sketch the finite-length sequence y[n] whose six-point DFT is? Y[k] = W 6 4k X[k], where X[k] is the six-point DFT of x[n]. (b)...
-
1. Why did Chief Justice Roberts and Justices Stevens and Kennedy believe that this certiorari petition should not be granted? 2. Why did Justice Ginsburg believe that the petition for certiorari...
-
Leadership traits ____________. (a) are largely pass (b) are excellent substitutes for behaviors (c) are now being combined with behaviors (d) are too rigid to be used in analyzing leadership
-
1. Which of the following is a responsibility of a local office of the IRS? a. Advising the Treasury Department on legislation b. Intelligence operations c. Appellate procedures d. Developing IRS...
-
The numbers 1, 2, 3, and 4 are written on slips of paper, and 2 slips are drawn at random one at a time without replacement. Find the given probabilities. a. The sum of the numbers is 7. b. The sum...
-
The Phillips Toy Company was considering the advisability of adding a new product line. Ike Barnes, a marketing major who had joined the company right out of business school three years previously,...
-
When gasoline prices go up, how is demand for the following products affected: (a) SUVs (b) Hybrid cars (c) Beach hotels (d) iWatches?
-
According to the News Wire "Price Elasticity" what is the price elasticity of demand for the 11inch Mac-Book Air?
-
Why has human resources become a greater focus of companies in recent years?
-
If we're looking at the F node, why is -3 being carried up the tree? If we're at the F node (Max's turn) then we should be evaluating whether -5 or -3 is greater than alpha, but neither are, so why...
-
What are some examples of cost synergies a retailer might be able to get via an acquisition? Suppose, Dollar General has now been listed as a public company. Dollar General decides to buy a small...
-
You have been offered the opportunity to purchase this restaurant for $180,000. The restaurant has been showing steady net income growth of 5% annually for the last several years and you assume this...
-
In their study of the effect of early colonial settlement on growth, Acemoglu- Johnson-Robinson are careful to rule out reverse causality. In this context reverse causality would mean that: O a....
-
If interest rates rise 5% and if you own a bond with a maturity of 10years and a duration of 5with a 5% yield your bond price will change by approximately what percentage amount? A- up 5% b- down 5%...
-
For the following exercises, use the descriptions of the pairs of lines to find the slopes of Line 1 and Line 2. Is each pair of lines parallel, perpendicular, or neither? Line 1: Passes through (5,...
-
Suppose the concentration of glucose inside a cell is 0.1 mm and the cell is suspended in a glucose solution of 0.01 mm. a. What would be the free energy change involved in transporting 10-o mole of...
-
Johnny Rockabilly has just finished recording his latest CD. His record companys marketing department determines that the demand for the CD is as follows: Price Number of CDs $24........ 10,000...
-
A company is considering building a bridge across a river. The bridge would cost $2 million to build and nothing to maintain. Number of Crossings, Price per Crossing in Thousands $8........... 0...
-
A company is considering building a bridge across a river. The bridge would cost $2 million to build and nothing to maintain. Number of Crossings, Price per Crossing in Thousands $8........... 0...
-
Why are revenue and expense accounts called temporary? Are there other temporary accounts
-
1.Kathy Morris owns a small decorating business called Premium Decorating. A partiallycompleted worksheet for Premium Decorating and additional information follow directly.Additional Information1....
-
If compliance with the continuing education requirement is by self-attestation, proof of participation in required continuing education is the responsibility of the licensee. To ensure that proof of...
Study smarter with the SolutionInn App