The dormitory cafeteria at No Name U is offering slices of chocolate cake to its students...

 

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The dormitory cafeteria at No Name U is offering slices of chocolate cake to its students each day. The table below lists the total utility from cake consumption each week depending on how many slices are consumed. a. Complete the table to show the marginal utility from each slice of chocolate cake consumed. Instruction: If you are entering any negative numbers be sure to include a negative sign (-) In front of those numbers. Marginal utility from cake consumption (utils/cake slice) Number of cake slices per week 0 1 2 3 4 5 6 7 Total utility from cake consumption (utils/week) 0 40 96 143 178 199 203 201 b. Diminishing marginal utility sets in after cake slice number: Total utility is diminishing after cake slice number: You should continue to consume cake until slice number: c. Applying your findings in part b, which of the following rules should be applied when deciding the number of units you should consume of any good or service when the marginal cost is zero? You should continue to consume more as long as (Click to select) The dormitory cafeteria at No Name U is offering slices of chocolate cake to its students each day. The table below lists the total utility from cake consumption each week depending on how many slices are consumed. a. Complete the table to show the marginal utility from each slice of chocolate cake consumed. Instruction: If you are entering any negative numbers be sure to include a negative sign (-) In front of those numbers. Marginal utility from cake consumption (utils/cake slice) Number of cake slices per week 0 1 2 3 4 5 6 7 Total utility from cake consumption (utils/week) 0 40 96 143 178 199 203 201 b. Diminishing marginal utility sets in after cake slice number: Total utility is diminishing after cake slice number: You should continue to consume cake until slice number: c. Applying your findings in part b, which of the following rules should be applied when deciding the number of units you should consume of any good or service when the marginal cost is zero? You should continue to consume more as long as (Click to select)

Answer rating: 100% (QA)

A see the image below Formula used TU N TU N1 MU B Diminishing MU is set after slice no 2 when mu ... View the full answer