Total utility and marginal utility
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
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
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
How to plot initial endowment points on a edgeworth box graph?