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E202PracticeExam1.4 - 12 For the demand curve shown find...

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Chapter 5 11. Martha’s current marginal utility from consuming orange juice is 75 utils per ounce and her marginal utility from consuming coffee is 50 utils per ounce. If orange juice costs 25 cents per ounce and coffee costs 20 cents per ounce, is Martha maximizing her total utility from the two beverages? If so, explain how you know. If not, how should she rearrange her spending?
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Unformatted text preview: 12. For the demand curve shown, find the total amount of consumer surplus that results in the gasoline market if gasoline sells for $2 per gallon. Find the total amount of consumer if gasoline sells for $3 per gallon and the change in consumer surplus. On my honor as an Aggie, I have neither given nor received unauthorized aid on this exam. Signature _____________________...
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