Fin. Assulfle that the Demand curve intersects the vertical axis at $11 meaning that NONE would be bought ... this Choose.. means we would calculate the area of a triangle to determine the surplus value in this question) Study Problem - 3 - Erika has a dilemma - What IF the prices for the snacks are $1.85 for potato chips, 1.40 for cheese whirls and $1.50 for nacho chips - Using the same Marginal Utilities and if she could only buy ONE which Choose.. snack would she buy? Study Problem - 6 - What if Christian's budget allowed him to make a TOTAL of NINE purchases - how many units of each product would he buy? Choose.. Study Problem - 8 - Using your completed table - what if Maria has $11.50 to spend on breakfast - how would she allocate her budget? Choose Study Problem - 15 - using the Figure that depicts the demand for grape oil - WHAT is the total consumer surplus if the price per liter is $3? Choose3. (LO 2 [[) ) Erika cannot decide whether to buy a packet of potato chips, cheese whirls, or nacho chips, whose marginal utilities are 50, 36, and 42, respectively. The prices of the snacks are $1.25, $0.80, and $1.20, respectively. a) Calculate the MU per dollar spent for each of the three products. b ) If Erika can afford to buy only one packet, which should she buy?3. (LO 2 [[) ) Erika cannot decide whether to buy a packet of potato chips, cheese whirls, or nacho chips, whose marginal utilities are 50, 36, and 42, respectively. The prices of the snacks are $1.25, $0.80, and $1.20, respectively. a) Calculate the MU per dollar spent for each of the three products. b ) If Erika can afford to buy only one packet, which should she buy?6. (LO 4 [) ) Figure 5.8 4 depicts Christian's $MU for ice creams and for giant chocolate cookies. w Ice creams $MU N Cookies 2 4 6 8 10 12 Quantity per period FIGURE 5.88. (LO 2 [[) ) Maria has $7 to spend on breakfast. Unfortunately, the snack bar in the building where she works has only three items: muffins at $1 each, soup at $1.50, and cappuccinos at $2 each. a) Given her total utility figures in Table 5.19 4, complete the MU columns. TABLE 5.19 Muffins Muffins Muffins Soup Soup Soup MU Cappuccinos Cappuccinos Cappuccinos Quantity TU MU MU per $ TU MU per $ TU MU MU per $ 60 120 70 2 110 186 130 3 140 234 160 160 273 170 162 291 175 b) How should she allocate her budget? Muffin(s): Soup: Cappuccino(s):15. (LO 5 (@) ) Suppose that Figure 5.11 ( depicts the demand for grape oil, which can be purchased in any quantities and sold at any price. $6 A Price per litre w N 100 200 300 400 500 600 700 Quantity per period FIGURE 5.11 a) What is the total consumer surplus if the price per litre is $4? b ) What is the total consumer surplus if the price per litre is $2? (Hint: Area of a triangle?)