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Please help me with that. Also please help with the graph too. I need to correct it. Question 1 # MU (urns) (1, 40 mils)
Please help me with that. Also please help with the graph too. I need to correct it.
Question 1 # MU (urns) (1, 40 mils) } 40 . .- ' i -. 1 I ' 1, 20 utils) \\ (1, 15 utils) ' ___..__(1, 5 utils) , [I 2 4 5 a "1'0 12 '14 Quantity of movie tickets Plot the points on the graph based on the table below (drag the points in the graph to a desired location correspo . ' . . o the numbers given in the table). Briefly explain why a graph is used in a budget constraint model between two goods and include a description of how the graph would look like. Table: Utility Quantity Marginal utility (utils) 35 3 25 5 15 10 5 Edit View Insert Format Tools Table 12pt ~ Paragraph B I U Av QV TV | : p 0 words > Question 2 Briefly describe how the utility-maximizing optimal choice on a consumption budget constraint can be found if we are consuming two goods - goods 1 and 2 whose prices are P1 and P2.Edit View Insert Format Tools Table 12pt v Paragraph v B I U Av _v TV | 0 words Question 3 Briefly discuss how greater consumption of a good affects total and marginal utility. What law of utility does this graph relate to? Edit View Insert Format Tools Table 12pt v Paragraph v BI U AV Q V T VStep by Step Solution
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