Number consumed0 1 2 3 4 5 6 7total utility0 5 11 18 24 30

Assignment Help Macroeconomics

Reference no: EM13378484

Number Consumed

0
1
2
3
4
5
6
7

Total Utility

0
5
11
18
24
30
35
32

1) Refer to the above table. The consumption of which bar yields the greates marginal utility?

A.Third

B. Fourth

C.Sixth

D. Seventh

2) Refer to the above table. Based on the data in the above table you can conclude that the:

A. Marginal utility of the fourth unit is 7

B. Marginal utility of the third unit is 18

C.Total utility of 5 units is 30

D. Total utility of 3 units is 34

3) The reason why people are charged for an additional can of soda they get from a soda machine, but are not charged for an additional paper taken from a newspaper dispensing machine, is that the marginal utility of an additional:

A.Soda is close to zero, but the marginal utility of an additional paper diminishes slowly

B.Soda diminishes slowly, but the marginal utility of an additional paper is close to zero

C. Soda increases by more than that of the newspaper as consumption increases

D. Newspaper increases by more than that of soda as consumption increases

Reference no: EM13378484

Questions Cloud

Assume that gross private domestic investment is 800 : assume that gross private domestic investment is 800 billion and the government state local and federal combined is

1 consider 2 countries avataria and twilightia which can be : 1. consider 2 countries avataria and twilightia which can be described by the solow model. avataria has a capital-labor

Your portfolio consists of three assets that have : your portfolio consists of three assets that have stochastic returns. your research team has estimated that the returns

Consider two countries vietnam and the united states which : consider two countries vietnam and the united states which produce two agricultural goods rice and wheat. the table

Number consumed0 1 2 3 4 5 6 7total utility0 5 11 18 24 30 : number consumed0 1 2 3 4 5 6 7total utility0 5 11 18 24 30 35 321 refer to the above table. the consumption of which

Enron case nbspnbspplease write 1000 wordsenron was the : enron case nbspnbspplease write 1000 wordsenron was the first nationwide natural gas pipeline network in the united

Power and politics in your organisation please wrote 1000 : power and politics in your organisation please wrote 1000 wordsthe historic enron scandal of 2002 highlights the

Find the present value of the following scenarios a an : find the present value of the following scenarios a. an annual payment of 1500 over 6 years with an interest rate

Write an essay onnbspeffective project management write : write an essay onnbspeffective project management. write report in 5 pages total and include

User Account

All Pages