Calculate the marginal utility at each point

Assignment Help Econometrics

Reference no: EM13244613

The following table shows the quantity of applesconsumed and total utility

derived from consuming these apples.

Quantity

ofApples ConsumedTotal Utility

0 0

1 8

2 14

3 18

4 20

5 20

A. From the information given in above table, calculate the marginal utility at each point.

B. Draw total utility curve andmarginal utility curve for consuming apples and interpret what is the relationship between totalutility and marginal utility of apples.

Reference no: EM13244613

Questions Cloud

How many molecules of gas are present under the conditions : How many moles of air are present in the RV at 1.0 atm and 37oC? b) How many molecules of gas are present under these conditions

Find the new equilibrium price and quantity : Assume market demand increases and that the new demand curve isnow Qd = 50 - P. Further assume the government provides toeach firm, a subsidy of $40 per unit of output produced. Thus the supply curve now becomes Qs = 10 + 2(P+40).

Describe what is the partial pressure of the co : A mixture consisting of 7.0g CO and 10.0g SO2, two atmospheric pollutants, has a pressure of 0.33 atm when placed in a sealed container. What is the partial pressure of the CO?

What is the max speed the ball can have : A 0.75 kg ball attached to the end of a horizontal cord, is rotated in a circle of radius 1.9 m on a frictionless horizontal surface, What is the max speed the ball can have

Calculate the marginal utility at each point : A. From the information given in above table, calculatethe marginal utility at each point. B. Draw total utility curve andmarginal utility curve for consuming apples and interpret what is the relationship between total utility and marginal utility..

What is the radius of the turn : Car has the mass M = 1100kg at 60.0 km/hour. What is the radius of the turn if theta = 20.0 degrees

Demonstrate understanding of statistical inference : Determine whether there are differences in the means of the number of cereal leaf beetles, in terms of colour preference, based on the numbers trapped on the different coloured boards.

Describe the pressure in the container : A mixture of CO2 and Kr weighs 35.0g and exerts a pressure of 0.708 atm in its container. Since Kr is expensive, you wish to recover it from the mixture. After the CO2 is completely removed by absorption with NaOH(s), the pressure in the container..

What gap inflationary or recessionary the economy facing : An economy is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs. What kind of gap-inflationary or recessionary-will the economy face after the shock,

User Account

All Pages