This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: How can you compute the total utility derived from consuming five hamburgers using marginal ... (Read 168 times)

jeatrice

  • Hero Member
  • *****
  • Posts: 543
on: Jun 29, 2018
How can you compute the total utility derived from consuming five hamburgers using marginal utilities?
 
  What will be an ideal response?

Question 2

A technological change that increases productivity ________ marginal product and ________ marginal cost.
 
  A) increases; increases
  B) increases; decreases
  C) decreases; increases
  D) decreases; decreases


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

peilian

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

The total utility from consuming any product is the sum of the marginal utilities of each unit of the product. So, if the five hamburgers yielded marginal utilities of 12, 8, 7, 5, and 3, respectively, the total utility from hamburgers would equal 35.

Answer to Question 2

B


jeatrice

  • Hero Member
  • *****
  • Posts: 543
Reply #2 on: Jun 29, 2018
Thank you :)


peilian

  • Sr. Member
  • ****
  • Posts: 316
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

World Total Energy Consumption by Fuel Type World Total Energy Consumption by Fuel Type
Canada Total Energy Consumption by Fuel Type Canada Total Energy Consumption by Fuel Type
The phenotypic and genotypic ratios of a dihybrid cross can be derived using a branched-line method The phenotypic and genotypic ratios of a dihybrid cross can be derived using a branched-line method
The traditional human karyotypes derived from a normal female and a normal male The traditional human karyotypes derived from a normal female and a normal male
A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ... A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ...
Investigation of hemoglobin derived from HbAHbA, HbAHbS, and HbSHbS Investigation of hemoglobin derived from HbAHbA, HbAHbS, and HbSHbS
Video: Interspecific Competition Relationship - Competitive & Niche Differentiation

For a complete list of videos, visit our video library