Question: i need the answer quickly Sally derives utility from pizza slices and hot dogs according to the following weekly schedule. A slice of pizza costs

i need the answer quicklyi need the answer quickly Sally derives utility

Sally derives utility from pizza slices and hot dogs according to the following weekly schedule. A slice of pizza costs $1.00 and a hot dog costs 50 Pizza Slices Hot Dogs TU MU MU/S MUS TU 12 20 36 2 22 50 3 31 62 4 39 72 5 45 SO 6 49 86 7 52 90 8 54 91 9 55 (a) Complete the "marginal utility" and "marginal utility per dollar" columns for each good (b) Sally's income is $8.00 Assuming that no half units may be bought how many slices of pizza and how many hot dogs should she consume to maximize her utility? (c) What would be Sally's total utility? (d) Sally would not maximize her utility by buying 4 slices of pizza and 5 hot dogs Why not? She wouldn't buy 5 slices of pizza and 7 hot dogs. Why not? It would be possible for Sally's total utility to increase if conditions changed. Give three examples of ways in which conditions could change so that Sally's utility would be greater than before. Derive "MU/S" values for pizza slices when the price slice is 50, $1.00, $1 50, and $2.00. At each price level, work out the utility- maximizing combination of the two goods. Compare the marginal utility/dollar" results with the formula in the textbook. Observe that the equality present in the utility-maximizing formula is an ideal-in the real world goods are "lumpy " Use the utility-maximizing numbers derived for pizza slices to complete the demand schedule in the following table. Changing prices, combined with utility- maximizing behavior, give us a demand curve Pizza Slices Quantity Demanded/Week Price 50 $1.00 $1.50 $2.00 Return to the orginal situation where the price of pizza slices and hot dogs are $1.00 and 50e, respectively. Sally's income rises from $8.00 to $10.50. Calculate the utility-maximizing combination of goods, Are pizza slices "normal" goods for Sally? (1)

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