1. Complete this table to the level of consumption at which TU is at a maximum. Q...
Question:
1. Complete this table to the level of consumption at which TU is at a maximum.
Q | 60Q | –4Q2 | = | TU |
1 | 60 | –4 | = | |
2 | 120 | –16 | = | |
3 | 180 | –36 | = | |
4 | 240 | –64 | = | |
5 | 300 | –100 | = | |
6 | 360 | –144 | = | |
7 | 420 | –196 | = | |
8 | 480 | –256 | = |
2. Derive the MU function from the following TU function:
TU = 200Q – 25Q² + Q³
From this MU function, draw up a table (like the one above) up to the level of Q where MU becomes negative. Graph these figures.
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1 2 MU dTUdQ 200 50Q 3Q Q 1 2 3 ...View the full answer
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