Archive for the ‘Economics’ Category
jjames4611 asked:
quantity of movies- 0 1 2 3 4 5
quantity of movies- 0 1 2 3 4 5
Total utility of movies- 0 _ _ _ 99.5 101.5
Marginal Utility of movies _ 48 27 17 _ _
Fill in the blank
If the price of a movie is 6 and there is a $20 budget (all of the budget is spent), how many slices of movie rentals will the consumer purchase to be in consumer equilibrium?