Question

20-9. Consider the movements that take place from one point to the next (A to B...

20-9. Consider the movements that take place from one point to the next (A to B to C and so on) along the total utility curve at the next column as the individual successively increases consumption by one more unit, and answer the questions that follow.

A.Which one-unit increase in consumption from one point to the next along the total utility curve generates the highest marginal utility?

B. Which one-unit increase in consumption from one point to the next along the total utility curve generates zero marginal utility?

C. Which one-unit increase in consumption from one point to the next along the total utility curve generates negative marginal utility?

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. A new ________ that is parallel to the first one, but just tangent to the...
1. A new ________ that is parallel to the first one, but just tangent to the new indifference curve, will reveal the real-income effect. maximization point perfect substitute curve perfect complement curve budget constraint line indifference curve 2. Marginal utility occurs when total utility declines as consumption increases. is the additional satisfaction derived from consuming one more unit of a good or service. is the combination of goods and services that maximizes utility for a given income. occurs when a...
10.       The Table below shows the Total Utility (TU) and Marginal Utility (MU) derived from the...
10.       The Table below shows the Total Utility (TU) and Marginal Utility (MU) derived from the consumption of 10 units of the commodities X and Y. a. Derive a column for the Marginal Utility of x (MUx), and a column for the Total Utility of y (TUy).                         b. On separate graphs, plot the Total and Marginal curves for each commodity, placing the panel of the marginal utility curve below the panel for the total                                          utility curve for each...
Which of the following is true? A. The MPC is less than zero. B. The MPC...
Which of the following is true? A. The MPC is less than zero. B. The MPC is greater than one. C. The MPC is the fraction of additional disposable income that households spend. D. The MPC is equal to consumption. E. The MPC is the fraction of additional disposable income that households save. Show the effect of an increase in the interest rate on investment. To do this you must do which of the following? a) Add a second investment...
(Environmental Policy) There are two firms whose production generates wastewater. One unit of production Q generates...
(Environmental Policy) There are two firms whose production generates wastewater. One unit of production Q generates one unit of wastewater E. Firm 1's marginal revenue from production is:  MR1 = 10 - Q1; firm 2's marginal revenue from production is MR2 = 18 - Q2. The pollutants in the wastewater can be removed through the water treatment facilities. The two firms have different water treatment technologies. Firm 1's marginal treatment cost is: MTC1 = T1; firm 2's marginal treatment cost is...
Two firms compete in prices along a linear city (as always, of distance one). One firm...
Two firms compete in prices along a linear city (as always, of distance one). One firm is located at the west end at point 0, the other is located in the center at point ½. Each firm has constant marginal cost equal to c. Each consumer i has unit demand and receives utility of uij = v - pj - tzij if she buys from firm j located a distance of zij away at price pj. She receives utility equal...
Max is selling his car. The minimum he needs to be paid for the car is...
Max is selling his car. The minimum he needs to be paid for the car is $4,000. He pays $20 to place a for sale ad in the newspaper, and he also pays mechanic $100 to provide a written assessment of the quality of the car. He initially asks $5,200 for the, but ends up selling it for $4,900. Calculate Max’s producer surplus. Question 7 options: $1,080. $1,200. $900. $780. When deciding how much of a particular good to produce,...
Q8. Cross-price elasticity of demand is calculated as the A) percentage change in quantity demanded divided...
Q8. Cross-price elasticity of demand is calculated as the A) percentage change in quantity demanded divided by percentage change in price of a good. B) percentage change in quantity demanded of one good divided by percentage change in price of a different good. C) percentage change in quantity sold divided by percentage change in buyers' incomes. Q.9. If the cross-price elasticity of demand for computers and software is negative, this means the two goods are A) substitutes. B) complements. C)...
Question 1 If you are trying to make yourself as happy as you can be given...
Question 1 If you are trying to make yourself as happy as you can be given the constraints that you face, you are effectively: Select one: a. trying to find the intersection point between two budget constraints. b. trying to find the point on the budget constraint that is on the highest indifference curve. c. trying to find the point where the budget constraint and an indifference curve intersect. d. trying to find the point on an indifference curve that...
1. The invisible hand is: Select one: a. a government agency finding inefficiencies b. the government...
1. The invisible hand is: Select one: a. a government agency finding inefficiencies b. the government coordination markets c. None of the above d. everyone working for the common good e. everyone working in their own self-interest 2. The concept of marginal utility: Select one: a. all of these are true. b. can only be applied to situations in which individuals can choose among several goods or services c. is the change in total utility that comes from consuming one...
1. From 1970 to 1993, the real price of eggs decreased.  Which of the following would cause...
1. From 1970 to 1993, the real price of eggs decreased.  Which of the following would cause an unambiguousdecrease in the real price of eggs? A) A shift to the right in the supply curve for eggs and a shift to the right in the demand curve for eggs. B) A shift to the right in the supply curve for eggs and a shift to the left in the demand curve for eggs. C) A shift to the left in the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT