Solved

(Table: Marginal Utility Schedule for Joachim) Looking at the Table

Question 159

Multiple Choice

(Table: Marginal Utility Schedule for Joachim) Looking at the table, what is a likely change if Joachim caught a bad cold, was congested, and had a runny nose for several days?
MU movie ticket P=$10MU hamburger P=$5MU pair of socks P=$4MU box of tissues P=$3 1st 301763 2nd 2512.532 3rd 181011 4th 84005 th 00\begin{array}{|l|c|c|c|c|}\hline & \begin{array}{c}M U \text { movie ticket } \\P=\$ 10\end{array} & \begin{array}{c}M U \text { hamburger } P= \\\$ 5\end{array} & \begin{array}{c}M U \text { pair of socks } \\P=\$ 4\end{array} & \begin{array}{c}M U \text { box of tissues } \\P=\$ 3\end{array} \\\hline \text { 1st } & 30 & 17 & 6 & 3 \\\hline \text { 2nd } & 25 & 12.5 & 3 & 2 \\\hline \text { 3rd } & 18 & 10 & 1 & 1 \\\hline \text { 4th } & 8 & 4 & 0 & 0 \\\hline 5 \text { th } & 0 & 0 & & \\\hline\end{array}


A) There would be no change in Joachim's preferences.
B) The marginal utility from hamburgers and movie tickets would rise.
C) The marginal utility for boxes of tissues would rise.
D) The price of tissues is likely to rise.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents