Question
Kevin enjoys eating chips.The table below shows the utility from his consumption.Complete the table. Potato Chips Quantity of bags of chips consumed Total Utility Marginal
Kevin enjoys eating chips.The table below shows the utility from his consumption.Complete the table.
Potato Chips
Quantity of bags of chips consumed Total Utility Marginal Utility
1 20
2 35
3 47
4 55
5 60
Charmaine spends her budget of $30 on pizza that costs $6 per slice and movie rentals that cost $4 per rental.Complete the following table:
Pizza Movie rentals
No. of slices Total Utility Marginal Utility Marginal Utility per $ No. of rental Total Utility Marginal Utility Marginal Utility per $
0 0 0 0
1 56 1 40
2 88 2 68
3 112 3 88
4 130 4 100
5 142 5 108
6 150 6 114
Carol's mom gave her $18 to spend at the school's fair.Complete the table.
Hamburger ($2) Pretzels ($3)
No. of hamburger Total Utility MarginalUtility marginal utility per $ No. of pretzel Total Utility MarginalUtility MarginalUtility per $
0 0 0 0
1 12 1 24
2 20 2 18
3 26 3 12
4 4 4 63
5 32 5 69
What would be the combination of hamburgers and soft pretzels that would maximize her utility?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started