Catherine is having dinner at the Yellow Restaurant. She wants desert after eating her entree. She is trying to decide between a cookie or a slice of pie. The cost of a cookie is $5 and the cost of a slice of pie is $8.

Refer to the Unit4 Learning Journal Marginal Utility spreadsheet

1. Compute the marginal utility for cookie and slice of pie
2. Compute the marginal utility per dollar
3. What is the utility maximizing choice for a cookie and slice of pie?
4. Explain what the utility maximizing choice means.
5. Discuss how you could use marginal utility to make consumer choices

don PB X My tasks | P x Redie Lewis x CallRail O x @ CallRail Voice: (206) x University O X BUS 1103 - X Home Unit 3_Accounting Templates . -Saved O SearchMENT Eder Perez EP AutoSave @ Off U4LJUtilityGuide - Protected View Search Eder Perez EP ile Home Insert Page Layout Formulas Data Review View Help Share C PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing Marginal Utility: Cookie B C D G H Marginal Utility: Cookie Marginal Utility: Slice of Pie Quantity Consumed Total Utility Marginal Utility Utility per Quantity Consumed Total Utility Marginal Utility Utility per 18 18 1 16 16 2 34 2 30 13 49 3 42 61 4 51 5 71 5 60 16 79 6 68 7 84 74 CO 10 8 87 76 11 IN 13 14 15 16 17 18 19 Sheet1 + Ready 5. Discuss how you could use marginal utility to make consumer choices Get A