Question: ECO 101 ASSIGNMENT FOR 21A Q1. (a) What do you understand by utility? (b) Given the table below on the consumption of Fanta by Mr

 ECO 101 ASSIGNMENT FOR 21A Q1. (a) What do you understand

ECO 101 ASSIGNMENT FOR 21A Q1. (a) What do you understand by utility? (b) Given the table below on the consumption of Fanta by Mr Ojo: Quantity Total Utility Marginal Utility (in bottles) (TU) (MU) 10 1 2 15 5 3 15 4 13 -2 un 08 Y 0) Find the value of X and interpret. C) Find the value of Y and interpret. (c) Distinguish clearly between a demand schedule and a demand curve with examples and discuss any five factors affecting the demand for food in Nigeria

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