The total utility of 3 units of good X is 22 and the totalutility of 5 units of good X is 28. The marginal utility ofthe 5th unit of good X is equal toA) 6B) 50C) 22D) OE) none of the aboveBecky's income increases from $2,000 per week to$2,400 per week. As a result, Becky decides to increaseher demand for good x by 25 percent. Please fill in theblanks: We can conclude that good x is a(n)good and that Becky's demand forgood x isSelect one:a.normal; income elastic.b.inferior; price inelastic.C.basic; income elastic.d.luxury; income inelastic.e.none of the above.

The marginal utility refers to the change in the total utility when one additional unit of good is…

Answered: . The total utility of 3 units of good…

. The total utility of 3 units of good X is 22 and the total utility of 5 units of good X is 28. The marginal utility of the 5th unit of good X is equal to A) 6

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 15CTQ: Income Effects depend on the income elasticity of demand for each good limit you buy. If one of the...

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Question

The total utility of 3 units of good X is 22 and the total
utility of 5 units of good X is 28. The marginal utility of
the 5th unit of good X is equal to
A) 6
B) 50
C) 22
D) O
E) none of the above
Becky's income increases from $2,000 per week to
$2,400 per week. As a result, Becky decides to increase
her demand for good x by 25 percent. Please fill in the
blanks: We can conclude that good x is a(n)
good and that Becky's demand for
good x is
Select one:
a.
normal; income elastic.
b.
inferior; price inelastic.
C.
basic; income elastic.
d.
luxury; income inelastic.
e.
none of the above.

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