Question
2.1 The following table gives a hypothetical total utility schedule for the Cookie Monster (CM): # of Cookies Per Day Total Utility per Day 0
2.1 The following table gives a hypothetical total utility schedule for the Cookie Monster (CM):
| # of Cookies Per Day | Total Utility per Day |
| 0 | 0 |
| 1 | 100 |
| 2 | 200 |
| 3 | 275 |
| 4 | 325 |
| 5 | 350 |
| 6 | 360 |
| 7 | 360 |
Calculate the CM's marginal utility schedule. Draw a graph of total and marginal utility. If cookies cost the CM 5 cents each and CM had a good income, what is the maximum number of cookies he would most likely eat in a day?
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Democracy And Public Administration
Authors: Richard C Box
1st Edition
1317473213, 9781317473213
