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sjbux sjbux
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5 years ago

Question 1.





Based on the information in the above table, what is the total satisfaction Lauren can achieve if she is a rational consumer?

• 111 utils

• 30 utils

• 74 utils

• 82 utils

Question 2.





Adam has 3 apples and 3 oranges. Eve has 2 apples and 2 oranges. The marginal utilities for Adam and Eve are summarized in the above table. Adam asks Eve to exchange one of her apples for an orange.

• Eve will be unwilling to make the exchange, because she loses 15 utils of satisfaction.

• Eve will be willing to make the exchange, because her total satisfaction will remain unchanged.

• Eve will be unwilling to make the exchange, because she loses 5 utils of satisfaction.

• Eve will be willing to make the exchange, because her total satisfaction will increase.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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coltonf1coltonf1
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sjbux Author
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#2
5 years ago
Thanks for your help!
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