Questionhow to calculate marginal utility if we have no, Ask an Expert

Economics

Question:

How to calculate marginal utility if we have no utility/utils data available?

Know the price of two items, the first worth 50$ and the second 20$, and the overall budget fixed at 200$

Calculate the additional utility for each in case the buyer would buy 2 items Worth 50 and 5 items worth 20.

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92536835

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question you work as a researcher at an active equity fund

Question: You work as a researcher at an active equity fund. Your supervisor makes the following statement to you. "Eugene Fama and Robert Shiller won the Nobel Prize in Economics in 2013. Their views on market efficienc ...

Question pham can work as many or as few hours as she wants

Question: Pham can work as many or as few hours as she wants at the college bookstore for $9 per hour. But due to her hectic schedule, she has just 17 hours per week that she can spend working at either the bookstore or ...

Question competency appraise the relationship between a

Question: Competency: Appraise the relationship between a heightened regulatory environment and corporate governance. Instructions: ABC Bank officials view compliance with regulations as a necessity for the very survival ...

Question a business equipment used for the manufacture of

Question: A business equipment used for the manufacture of commercial goods can be purchased for $30,000. This asset is expected to be sold after 4 years for $6,000. Compute the depreciation amounts every year (depreciat ...

Question debeers the dominant firm in diamond mining and

Question: DeBeers, the dominant firm in diamond mining and wholesale marketing, has until recently been unintegrated into any downstream activities. In the past few years, however, it has opened a handful of its own reta ...

Question investing in human capital is an individual

Question: Investing in Human capital is an individual decision. A. List and explain three factors the lead to individual differences in human capital investment. B. Explain why workers bear general training costs. C. Exp ...

Question describe how the government should set up

Question: Describe how the government should set up monopolists price to ensure allocatice efficiency. What is the problem with setting the price at this level? The response must be typed, single spaced, must be in times ...

With reference to economic scholars and theories evaluate

With reference to economic scholars and theories, evaluate the various criteria of social welfare maximisation.

Question - in the solow growth model suppose that the

Question - In the Solow growth model, suppose that the per-worker production function is given by y = zk 3 , with s = 0.25, d = 0.1, and n = 0.02. 1. Suppose that in country A, z = 1. Calculate per capita income and capi ...

Question four firms called elm maple oak and cherry produce

Question: Four firms called Elm, Maple, Oak, and Cherry, produce wooden chairs. However, they also produce a great deal of garbage (a mixture of glue, varnish, sandpaper, and wood scraps). The first row of Table 12.6 sho ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert