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Marginal Utility per DollarAt Marcia's consumer equilibrium, she purchases 1 diamond and 5,840 ...

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Marginal Utility per DollarAt Marcia's consumer equilibrium, she purchases 1 diamond and 5,840 ...

Marginal Utility per Dollar

At Marcia's consumer equilibrium, she purchases 1 diamond and 5,840 bottles of water a year. If the price of diamonds is $7000 and the price of water is $0.75 and the total utility from purchasing one diamond is 11,840, what is the marginal utility Marcia receives from the 5,840th bottle of water? Please round your final answer to two decimal places.

▸ 11,840

▸ 1.27

▸ 7416.8

▸ 0.44

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 40 times

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