2. LAW OF DIMINISHING MARGINAL UTILITY Utility Schedule Quantity (Q) TU MU 0 10 10 18 24 NO UA W N - O 28 NONADO 30 30 28 MU = change in TU / change in Q Change in TU = TU2 - TUI Change in Q = Q2 - Q1Shapes of the TU & MU curves 70 M 60 Utility: Total 50 TUX and Marginal 40 30 20 10 -10 1 2 3 4 5 6 7 -20 Quantity MUX In linele by Unknown Author & licensed underUNIVERSITY OF SANTO TOMAS COM501 - BASIC MICROECONOMICS COLLEGE OF COMMERCE & ACTIVITY 1PP - UNIT 3 - CONSUMER BEHAVIOR BUSINESS ADMINISTRATION NOVEMBER 9, 2023 BUSINESS ECONOMICS DEPARTMENT NAME SCORE Part 1: Fill in the missing values. ( , ) Graph TU & MU in just one graph. () Q TU MU 0 0 3 60 6 18 9 15 12 198 15 9 18 246 21 5 24 3 27 270 30 -2 GIVEN: The price of Good C is P20 while that of Good D is P10 and the Budget is P70.00. Quantity |TU-C MU-C MU/P -C TU-D MU-D MU/P -D 1 30 50 2 25 90 3 20 120 15 143 5 10 160 Fill in the missing values based on the givens. 14 Determine the equi-marginal combination or LCPC of the consumer by applying the 2 conditions. Fill up the table below. Show the computations. (1 Determine also the TU at equilibrium point. Show the computations. () EX: Condition 1: Marginal Utilities Per Peso Spent|Condition 2: Purchases = 1QC & 1QD on all goods are equal Budget Ex: Muc/Pc & MUd/Pd = 2 Ex: 20*1 + 10*1 = 2+10=30