mjb08a_m41_RETURNED-2

# mjb08a_m41_RETURNED-2 - Total and Marginal Utility for...

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Total and Marginal Utility for Doughnuts Doughnut Number 0 \$- 1 \$- 2 \$- 3 \$- 4 \$- 5 \$- 6 \$- 7 \$- 8 \$- 9 \$- 10 \$- How much is that doughnut worth to you? (Utility) Total Utility (TU) = Sum of all Utility to this point (Total Joy) Marginal Utility = Δ Total Utility / Δ in Qty Net Utility = Marginal Utility - Price of Good Total Net Utility = Total Utility - Total Expenditure (Price X Qty) Price of Good 1 2 3 4 5 6 7 8 9 10 11 0 2 4 6 8 10 12 Total Net Utility Number of Doughnuts Total Net Utility

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Budget Line Example Scenario 1 Budget Qty Combinations Bands Cheese Price of Rubber Bands All Bands #DIV/0! 0 Price of Cheese All Cheese 0 #DIV/0! Scenario 2 Budget Qty Combinations Bands Cheese Price of Rubber Bands All Bands #DIV/0! 0 Price of Cheese All Cheese 0 #DIV/0! Scenario 3 Budget Qty Combinations Bands Cheese Price of Rubber Bands All Bands #DIV/0! 0 Price of Cheese All Cheese 0 #DIV/0! Scenario 4 Budget Qty Combinations Bands Cheese Price of Rubber Bands All Bands #DIV/0! 0 Price of Cheese
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## This note was uploaded on 05/01/2010 for the course BUS 5529 taught by Professor Wood during the Spring '10 term at Abilene Christian University.

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mjb08a_m41_RETURNED-2 - Total and Marginal Utility for...

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