Question
the price of sushi is 10 dollars, and the price of coffee is 4 dollars. 1. What is the marginal utility to Asya associated with
the price of sushi is 10 dollars, and the price of coffee is 4 dollars.
1. What is the marginal utility to Asya associated with each additional sushi dinner during the month? Write in the blanks given in the "marginal utility" column
2. Use the table on the following page to answer this question. What is the marginal utility to Asya associated with each additional gourmet coffee drunk during the month? Write in the blanks given in the "marginal utility" column
3. Describe what happens to total and marginal utility from sushi dinners as Asya consumes more and more of them. Provide a brief explanation for both patterns
4. What combinations of sushi dinners and gourmet coffees are feasible for Asya? Illustrate those combinations in a graph
5. Of those feasible combinations, which gives Asya the highest total utility? (That will be the sum of total utility for the chosen quantity of sushi dinners and total utility for the chosen quantity of gourmet coffees.) Give a two-sentence explanation for how you found this.
6. Calculate Asya's marginal utility per dollar spent in sushi dinners. Convert this information to Asya's demand curve for sushi dinners and provide a graph of that demand curve. Explain your reasoning in no more than three sentences.