Question
1Consumers' Behavior, MU, and TU Refer to the table below. It shows various combinations of economics classes that Peggy Sue could take at LCC and
1Consumers' Behavior, MU, and TU Refer to the table below. It shows various combinations of economics classes that Peggy Sue could take at LCC and MSU during her 4 years there. Suppose each class at LCC would cost her $200, while each class at MSU would cost her $800. 2. Explain WHY her utility is decreasing with each additional class. Wouldn't she be learning more in each class and her utility should be going up? Discuss in detail. Make sure that your answer is tied to a specific type of service in question, rather than a general explanation. 3. Why is her MU of taking the 7th class at both LCC and MSU negative?
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