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Author Question: Relationship between Utility and ConsumptionThe table shows Kaito's utility from consuming protein ... (Read 21 times)

aeb093

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on: Nov 23, 2022

Question 1

Measuring Satisfaction

The table shows Hibo's utility from consuming bagels.

Number of BagelsTotal Utility from Bagels
00
150​
272​
387​
498​
5107​
Hibo's marginal utility from the fourth bagel is ________. This illustrates the law of ________ (diminishing/increasing) marginal utility.
◦ 98, diminishing
◦ 98, increasing
◦ 11, diminishing
◦ 11, increasing

Question 2

Relationship between Utility and Consumption

The table shows Kaito's utility from consuming protein shakes and beef jerky.

Number of Protein ShakesTotal Utility from Protein ShakesNumber of Slices of Beef JerkyTotal Utility from Beef Jerky
0000
121​149​
232​271​
338​381​
439​494​
535​5100​
628​6101​
If Kaito has an unlimited budget to spend on protein shakes and beef jerky, how many protein shakes and beef jerky will he consume? Assume that Kaito cannot consume more than 6 protein shakes and 6 slices of beef jerky.
◦ 4 protein shakes and 6 slices of beef jerky
◦ 4 protein shakes and 4 slices of beef jerky
◦ 1 protein shake and 4 slices of beef jerky
◦ 6 protein shakes and 6 slices of beef jerky
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by aeb093 on Nov 23, 2022

jojo120419

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Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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aeb093

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Reply 2 on: Nov 23, 2022
Thanks for the timely response, appreciate it

rachel

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Reply 3 on: Yesterday
Wow, this really help

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