Economics 1021A Chapter 8

33 633 633 550 483 417 bowling 3 per game marginal

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: tility per dollar spent 5.00 5.67 6.33 6.33 9.33 14.00 How a Change in Price of Movies Affects Lisa’s Choices Movies ($3 each) Quantity 0 1 2 3 4 5 5 6 7 8 9 10 Bowling ($3 per six pack) Marginal utility per dollar spent Games 16.67 12.67 11.00 9.67 8.33 8.33 7.00 6.00 5.00 4.00 3.00 10 9 8 7 6 5 5 4 3 2 1 0 Marginal utility per dollar spent 5.00 5.33 5.67 6.00 6.33 8.33 8.33 9.33 12.00 14.00 25.00 A Fall in the Price of Movies Bowling Lisa’s Lisa’s demand for movies 6 3 0 2 5 Price (dollars per six-pack) Price (dollars per movie) Movies Quantity (movies per month) demand for bowling when movies cost $6 6 Lisa’s demand for bowling when movies cost $3 3 0 5 6 Quantity (games per month) How a Change in Price of Bowling Affects Lisa’s Choices Movies ($3 each) Quantity 0 2 4 6 8 10 Marginal utility per dollar spent 12.67 9.67 7.00 5.00 3.00 Bowling ($6 per game) Games 5 4 3 2 2 1 0 Marginal utility per dollar spent 4.17 4.67 6.00 7.00 7.00 12.50 Price (dollars per game) Bowling 6 Lisa’s demand for bowling 3 0 2 5 Quantity (games per month) Price (dollars p...
View Full Document

Ask a homework question - tutors are online