Paul has been babysitting for a family friend over the summer. In total, he has earned...
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Paul has been babysitting for a family friend over the summer. In total, he has earned $200. Assume that this is his only source of revenue for the month on entertainment. He enjoys both movies and watching live hockey games at the Forum in Halifax. The table below shows the utility he gets from each activity. Total Utility is in Utils. What can you say about Paul's total utility associated with watching movies? His total utility is: Number Total Total per month Utility Utility from from movies games 1 90 220 2 165 420 3 225 570 4 270 670 300 720 6 315 745 a) increasing at a constant rate O b) decreasing at an increasing rate. C) increasing at an increasing rate O d) increasing at a decreasing rate e) decreasing at a decreasing rate. Paul has been babysitting for a family friend over the summer. In total, he has earned $200. Assume that this is his only source of revenue for the month on entertainment. He enjoys both movies and watching live hockey games at the Forum in Halifax. The table below shows the utility he gets from each activity. Total Utility is in Utils. What can you say about Paul's total utility associated with watching movies? His total utility is: Number Total Total per month Utility Utility from from movies games 1 90 220 2 165 420 3 225 570 4 270 670 300 720 6 315 745 a) increasing at a constant rate O b) decreasing at an increasing rate. C) increasing at an increasing rate O d) increasing at a decreasing rate e) decreasing at a decreasing rate.
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D Increasing at a decreasing rate The marginal utility is the extra utility that results from incr... View the full answer
Related Book For
Intermediate Microeconomics and Its Application
ISBN: 978-0324599107
11th edition
Authors: walter nicholson, christopher snyder
Posted Date:
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