Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

GRAPHING ASSIGMENTII 4 Check blackboard for the due date. THIS IS COPYRIGHTED MATERIAL. You are given the following data about the utility for coffee. Total

image text in transcribed
GRAPHING ASSIGMENTII 4 Check blackboard for the due date. THIS IS COPYRIGHTED MATERIAL. You are given the following data about the utility for coffee. Total Utility [TU] is measured in 100's of utils and the quantity of coffee [{1} is measured in number of cups of coffee consumed. You will be making a presentation about utility to your Microeconomics class. The data is listed below. The source for your knowledge about utility is from a book Coffee Utility and The Indiyidual, 5\" edition, by Herman Franks, Pantheon Press Publishers, Toronto, Ontario, 2019. THIS IS COPYRIGHTED MATERIAL. Total Utility {TU} D 10 1? 25 31 35 35 25 13 Quantity of coffee 0 1 2 B 4 5 B T B THIS IS COPYRIGHTED MATERIAL 1. a. In one clearly and accurately labeled graph, created using Excel, graph your Total Utility [TU]: more of your coffee consumption. This will be graph It 2 in your presentation. [15 pts] THIS IS COPYRIGHTED MATERIAL b. In one clearly and accurately labeled graph, created using Excel, graph your Marginal Utility [MU]: curye of your coffee consumption. MU is measured in 100's utils. This will be graph It 3 in your presentation. [15 pts} THIS IS COPYRIGHTED MATERIAL. Be certain to calculate MU which you will need for part c]. c. In one clearly and accurately labeled table, created using Excel, list your data for MU, being certain to show all your work for calculating MU. This will be Table ii 1 in your presentation. [15 pts] THIS IS COPYRIGHTED MATERIAL d. Based solely on your graphs in parts a and b, and specically referencing both graphs, explain, THIS IS COPYRIGHTED MATERIAL a. where TU and MU have hit their peak and why, b. explain where and why diminishing marginal utility is located on both graphs, and c. explain where negatiye marginal utility is located on both curves and why. [5 pts each for a-b-c, for 15 pts total) THIS IS COPYRIGHTED MATERIAL Graphs and tables for this assignment must be properly constructed and created using Excel. Prepare your assignment as a 1Word document with embedded Excel charts. Number each step of the assignment. The assignment may be submitted to Turnitin as a 1Word or .pdf document. Be sure to include your name at the top of the assignment before submitting. This graphing assignment is worth 50 points. THIS IS COPYRIGHTED MATERIAL

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Marketing

Authors: Johny K Johansson

5th Edition

0073381012, 9780073381015

More Books

Students also viewed these Economics questions

Question

What do the abbreviations ASP and JSP stand for? AppendixLO1

Answered: 1 week ago

Question

The background knowledge of the interpreter

Answered: 1 week ago

Question

How easy the information is to remember

Answered: 1 week ago