Ask Question
BusinessBusiness
11 December, 20:12

Suppose that Dillon derives 40 utils of total utility from eating 5 hotdogs and 42 utils of total utility from eating 6 hotdogs. What is Dillon's marginal utility from eating the 6th hotdog? A. 7 B. 6 C. 2 D. 6.67

+4
Answers (1)
  1. 11 December, 20:17
    0
    Answer: The marginal utility is 2

    Explanation:

    Utility is the satisfaction derived from the consumption of a particular commodity. Total utility is the total satisfaction derived from the consumption of a particular commodity. Marginal utility is the extra satisfaction that a consumer gets from consuming a product. Utility is measured in utils.

    Marginal utility increases with an extra consumption of a good at first but later it begins to reduce as the extra good consumed doesn't really have give the consumer enough satisfaction anymore.

    Regarding the question, eating 5 hotdogs gives 40 utils and eating 6 hotdogs gives 42 utils.

    The marginal utility is the extra utils which will be 42-40 which gives 2 utils.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose that Dillon derives 40 utils of total utility from eating 5 hotdogs and 42 utils of total utility from eating 6 hotdogs. What is ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
If you use a motor vehicle to commit a felony, your drivers license will be
Answers (1)
Kramer Industries has cash of $39,000; net Accounts Receivable of $45,000; shortminusterm investments of $12,000 and inventory of $31,000. It also has $30,000 in current liabilities and $57,000 in longminusterm liabilities.
Answers (1)
Which of the 4ps in the marketing mix is most directly related to discounts and allowances of purchased products in a b2b transaction?
Answers (1)
Market supply is P = 10+0.5Q and market demand is P = 150-3Q in a perfectly competitive market. If a firm has fixed costs of 60, Variable Costs V C = 6q2 and Marginal Cost MC = 15q, which of the following will be true in the short run: A.
Answers (1)
Why do monopolies engage in price discrimination when possible? Enumerate and explain the nature of possible impediments to price discrimination.
Answers (1)
New Questions in Business
Weaver Chocolate Co. expects to earn $3.50 per share during the current year, its expected dividend payout ratio is 65%, its expected constant dividend growth rate is 6.0%, and its common stock currently sells for $32.50 per share.
Answers (1)
GANTT refers to the Generalized Activity Network Tracking Technique which was developed to better understand how variability in the duration of individual activities impacts the expected project duration. a. trueb. false
Answers (1)
A firm based in a country with a national competitive advantage is not guaranteed success as it implements its chosen international business-level strategy.
Answers (1)
A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office building: Purchase price of the land $ 620,000 Sale of salvaged parts already on land $ 20,000 Demolition of the old
Answers (1)
The marketing research process involves which type of research process
Answers (1)
Home » Business » Suppose that Dillon derives 40 utils of total utility from eating 5 hotdogs and 42 utils of total utility from eating 6 hotdogs. What is Dillon's marginal utility from eating the 6th hotdog? A. 7 B. 6 C. 2 D. 6.67
Sign Up Forgot Password?