Principles of Micro: Consumer Choice and Elasticity Due Date on Classroom You must show all work to receive full credit. Label all important points on a graph. 1 Single Good [14 pts] Consider the following information on the total monetary utility received from consuming apples. The price of an apple is $1.00. Q Apples Total Marginal Total Marginal Total Utility Utility Cost Cost Net Utility 0 $0.00 1 $4.00 2 $7.00 3 $9.00 4 $10.00 5 $10.00 6 $9.00 a. [4 pts] Fill in the values for the Marginal Utility, Total Cost, Marginal Cost and Total Net Utility. b. [3 pts] What is the buyer's optimization equilibrium? According to the optimal purchase rule how many apples should this consumer buy? Why would a consumer not purchase any more apples than this? c. [2 pts] How much consumer surplus does this consumer get from their optimal purchase? d. [2 pts] Explain how to derive the demand curve using the buyer's optimization equilibrium.e. [3 pts] Plot the Total Utility Curve, Marginal Utility Curve and Total Net Utility Curve. Make sure you label all important points and that all the curves line up properly. TU 10 12 Apples MU 3 r Out [18)= 10 15Apples TNU 2 10 12 Apples 2