Question

Quantity (cones per week) Total utility Marginal utility 0 0 X 1 22 ___ 2 38...

Quantity
(cones per week)
Total utility Marginal utility
0 0 X
1 22 ___
2 38 ____
3 ____ 11
4 56 ____
5 ____ 4
6 62 ____
7 63 ____


1) The table above gives the utility Andy receives from different quantities of vanilla ice cream cones. Complete the table. Place all answers in the space provided below.

Quantity
(tacos per week)
Total utility Marginal utility
0 0 X
1 ____ 20
2 35 ____
3 45 ____
4 52 ____
5 57 ____


2) The table above gives Jessie's marginal utility and total utility from tacos. Complete the table. Place all answers in the space provided below.

Homework Answers

Answer #1

Q1

Quantity Total utility Marginal utility
(cones per week)
0 0 X
1 22 22
2 38 16
3 49 11
4 56 7
5 60 4
6 62 2
7 63 1

the marginal utility of n th unit =Total utility of n units - total utility of n-1 units

total utility =sum of marginal utilities.

Q2

Quantity Total utility Marginal utility
(tacos per week)
0 0 X
1 20 20
2 35 15
3 45 10
4 52 7
5 57 5

the marginal utility of n th unit =Total utility of n units - total utility of n-1 units

total utility =sum of marginal utilities.

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