First, draw a total utility curve.Second, draw a marginal utility curve.(Put a "dot" on the MU curve.Now, in a Price/Quantity space (a third graph), draw another "dot"just a point.Now, consider a price decrease.What will happen to the two dots (the one on the MU curve and the dot in the P/Q space)?Where will they move?Why?This is one way to derive a demand curve.(We will cover the derivation you were taught in future weeks.)]

(The Marginalists were not good at getting from a MU function to a demand functionnor was Jevons.Show me that you can make the jump.)

a.What happened to the dot on the MU function?Did it move down, right?Left, down?Up, right?Which way did it move?And, why did ithaveto move that way?Explain.

b.What happened to the lonely dot in the price/quantity space?Did it move down, right?Left, down?Up, right?Which way did it move?And, why did ithaveto move that way?Explain.