Complete Table 19.3 below.Assume the price of cola is $8 per unit and the price of pretzels is $4 per unit.
$\begin{array}{llllll}
\text { Units of}&\text { TU of}&\text {MU of }&\text { Units of}&\text {TU of }&\text {MU of }\
\text {Cola }&\text { Cola}&\text {Cola }&\text {Pretzels }&\text { Pretzels}&\text {Pretzels }\
\hline 1&40&40&1&30&30\2&\_\_\_&32&2&\_\_\_&20\3&96&24&2&66&16\4&112&\_\_\_&5&84&\_\_\_&
\end{array}$
Table 19.3
Michael's Utility Schedule In Table 19.3, what is the marginal utility of the fifth unit of cola?
A) 6.
B) 12.
C) 16.
D) 24.

Question

Complete Table 19.3 below.Assume the price of cola is $8 per unit and the price of pretzels is $4 per unit.
$\begin{array}{llllll}
\text { Units of}&\text { TU of}&\text {MU of }&\text { Units of}&\text {TU of }&\text {MU of }\
 \text {Cola }&\text { Cola}&\text {Cola }&\text {Pretzels }&\text { Pretzels}&\text {Pretzels }\
\hline 1&40&40&1&30&30\2&\_\_\_&32&2&\_\_\_&20\3&96&24&2&66&16\4&112&\_\_\_&5&84&\_\_\_&
\end{array}$
Table 19.3
Michael's Utility Schedule In Table 19.3, what is the marginal utility of the fifth unit of cola?
A) 6.
B) 12.
C) 16.
D) 24.

Quizplus · Accepted Answer

The marginal utility of the fifth unit of cola is found by subtracting the total utility (TU) of the fourth unit from the TU of the fifth unit. Given that the TU for 4 units of cola is 112, and assuming the pattern of diminishing marginal utility continues, the next logical step in the sequence for marginal utility (MU) would be a decrease from the previous MU of 24 for the third unit. Since the MU decreases as more units are consumed, and the options are given, the correct answer is deduced to be 16 less than 112, which is not directly calculable from the information provided. However, the pattern suggests a diminishing value, making 16 a reasonable guess for the decrease, but the actual calculation for the MU of the fifth unit cannot be directly determined from the provided information. The correct approach to find the MU of the fifth unit of cola would involve knowing the total utility for five units of cola, which is not provided. Therefore, without additional information, the correct answer cannot be determined based on the information given in the question. My previous explanation mistakenly attempted to infer an answer without sufficient data to calculate the MU for the fifth unit of cola directly.

Complete Table 19 Table 193 Michael's Utility Schedule in Table 19

Complete Table 19 Table 193
Michael's Utility Schedule in Table 19