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. If you are told that Paul's total utility associated with watching 7 movies is 315 utils, what can you conclude about his marginal utility for the 7th movie he watches? The marginal utility associated with watching the 7th movie is utils. Number Total Total Utility from Utility from per month movies games 90 220 2 165 420 225 570 270 670 300 720 315 745 a) o b) 30 c) 315 d) 300 e) 15 13456 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. If you are told that Paul's total utility associated with watching 7 movies is 315 utils, what can you conclude about his marginal utility for the 7th movie he watches? The marginal utility associated with watching the 7th movie is utils. Number Total Total Utility from Utility from per month movies games 90 220 2 165 420 225 570 270 670 300 720 315 745 a) o b) 30 c) 315 d) 300 e) 15 13456
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Marginal utility is additional utility gained by consumpt... 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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