1.Suppose the following table reflects the total satisfaction (utility) derived from eating slices of pizza. Calculate the marginal utility of each slice of pizza and answer two questions about marginal utility.
a. What is the marginal utility of each slice of pizza?
Instructions:Complete each of the cells below. Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
IMAGE OF CHART ATTACHED
Quantity Consumed. Total Utility. Marginal Utility
No slices. 0
First slice 25
Second slice 50
Third slice 75
Fourth slice 90
Fifth slice 103
Sixth slice 100
Seventh slice. 90
, \\ , 5 / ezto.mheducation.com Cl if] E \\ Week 7: Homework 0 Saved Help Save& Exlt Submit Check my work Suppose the following table reflects the total satisfaction (utility) derived from eating slices of pizza. Calculate the marginal utility of each slice of pizza and answer two questions about marginal utility. 10 points a. What is the marginal utility of each slice of pizza? eBook Instructions: Complete each of the cells below. Enter your responses as a whole number. If you are entering any negative numbers be A k sure to include a negative sign H in front of those numbers. 5 Prlnt Quantity Consumed Total Utility Marginal Utlllty References NO slices 0 _ First slice 25 Second slice 50 Third slice 75 Fourth slice 90 Fifth slice 103 Sixth slice 100 Seventh slice 90 b. Marginal utility rst diminishes with slice number :2. Marginal utility rst turns negative with slioe number :I MC Graw Prev 1 of 7 =:: Next > Hill Ill 51mm" ezto.mheducation.com C Week 7: Homework Question 2 - Week 7: Homework... Homework Help - Q&A from Onli... Mass Building Workout Program... Married at First Sight | Xfinity Str... (52) Tracy Chapman - Fast Car (... + Week 7: Homework i Saved Help Save & Exit Submit Check my work 2 POLICY PERSPECTIVES Suppose the following demand exists for iphone apps: iPhone Apps 10 points $11 Tools $10 eBook iPhone Apps $9 Ask Point A Point B Price (per app) Quantity Demanded Print millions $10 2 References Point C 9 w Price(per app) 10 00 - ) UT A wAUOVO Demand 0 1 2 3 4 5 6 7 8 9 10 11 Quantity Demanded (millions of iphone apps) Mc Graw Hill Education ezto.mheducation.com C Week 7: Homework Question 3 - Week 7: Homework... Homework Help - Q&A from Onli... Mass Building Workout Program... Married at First Sight | Xfinity Str... copy on a mac - Google Search + Week 7: Homework i Saved Help Save & Exit Submit Check my work 3 a. Complete the following table and answer two questions about costs. 10 Instructions: Enter your responses rounded to the nearest whole dollar. If you are entering any negative numbers be sure to include a points negative sign (-) in front of those numbers. eBook Rate of Output Total Cost Marginal Cost Average Cost Ask $ 20 Print 30 References 45 EA EA On A W N - 67 $ 100 EA 140 b. What output has the lowest per-unit cost equal to marginal cost? Inits c. What is the value of fixed costs? Mc Graw Hill Education,. > - 777 , , ,, ,, eztomheducatiomcom (5 ,, , , , , , , , ,, WW- .7 Week 7: Homework 0 Saved Help Save& Exlt Submit Check my work Suppose the following data describe a nation's population: 5 Year 1 Year 2 points Population 130 million 135 million Labor force 65 million 68 million eaook Unemployed 4.5 million 4 million ASk Instructions: Round your responses to two decimal places. Print a. What is the unemployment rate in each year? Year 1: References Year 2: b. Between Year 1 and Year 2, (i) the number of unemployed persons 0 did not change. ,. > - 777 , , ,, ,, eztomheducatiomcom (5 ,, , , , , , , , ,, WW- .7 Week 7: Homework 0 Saved Help Save& Exlt Submit Check my work According to the following data, 2000 2019 5 points Average hourly wage $14 $23 CPI 1 70 254 eak a. by what percentage did nominal wages increase between 2000 and 2019? :I Ask b. by what percentage did consumer prices increase between 2000 and 2019? :I Prlnt :2. Did real wages increase between 2000 and 2019? :| References ezto.mheducation.com C Week 7: Homework Question 6 - Week 7: Homework... Homework Help - Q&A from Onli... Mass Building Workout Program... Married at First Sight | Xfinity Str... copy on a mac - Google Search + Week 7: Homework i Saved Help Save & Exit Submit Check my work 6 Use the table and graph to answer three questions. 5 Real GDP (in $ Trillions) points Price Level Supplied Demanded 100 16 eBook 110 10 15 Ask 140 14 12 200 15 6 Print References 220 AS 200 180 160 Price Level 140 120 Graw Hill ducation ezto.mheducation.com C l iii ET Week 7: Homework 0 Saved Help Save& Exlt Submit Check my work 6 220 AS 200 5 points 180 E 1 60 eBook 8 Ask E 140 Print 1 20 References 100 AD 80 0 5 1 0 1 5 20 Real GDP(in $ trillions) Using the information in the table and graph, answer the following questions. a. What is the equilibrium price level? :I b. What is the equilibrium output? :Itrillion in real GDP 0. If the quantity of output demanded at every price level increases Output by $2 trillion, what happens to equilibrium output and prices? Prices , \\ , 5 \\ / eztomheducationcom Cl if] \\ ' ET \\ Week 7: Homework 0 Saved Help Save& Exlt Submit 7 percent of the state's gasoline supply. Source: News accounts of Augustseptember 2017. NOTE: An extemal shock can disrupt both the demand and supply sides of the economy. The damage caused by Hurricane Harvey to transportation and production systems made 5 supplying output more diicult, more time-consuming. and more expensive. points eBook Ask Prlnt References a. Did aggregate supply increase or decrease Aggregate supply :I because of Hurricane Hervey? Output b. What are the macro results? Price level c. How can the economy stay healthy in this case? Government could enact policy to cause aggregate demand to Government could enact policy to cause aggregate supply to
