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Utility

Microeconomics

Total utility and marginal utility

Marginal Utility, Pricing Policy, Demanders Behavior

1. simple dispensing machines offer opportunites for consumers to take numerous copies for the price of 1 copy. why do consumers usually take only one copy? 2. the price of a seasonal pass to six flags great adventure is not much more than a weekly pass. why is this a reasonable pricing policy? 3. Tim eats only burgers a

Utility Curve

Based on the table, graph the total utility curve of Chad Hobbs for buffalo wings. Secondly, calculate the marginal utility between each point and plot the corresponding graph. Why is the slope of the MU curve negative? Chad's Utility Function ___________________________________________________ # of wings

Plotting Initial Endowment on the Edgeworth Box Graph

Question: How do you plot the following initial endowment on a Edgeworth box graph? Do the utility functions come into play in any way? XA = (0, 4), XB = (4, 2), UA = 2X1 + X2, UB = X1+2X2

Plotting Initial Endowment Points

How to plot initial endowment points on a edgeworth box graph?