ECO 100 University of Sharjah Marginal Utility Decreases Discussion

I’m working on a writing question and need an explanation to help me understand better.

Managerial Economics ECO100

Assignment 2 Spring 2021

Instructions:

pls make no high plagiarism

1-Answer the following questions and submit your answer in excel file.

2-The assignment counts for 10% of the total grade.

Question One:

Using excel sheet, answer the following question and submit the answer in excel file.

Quantity	Total Utility of chips	Total Utility of coke	Marginal utility of chips	Marginal utility of chips per dollar	Marginal utility of coke	Marginal utility of coke per dollar
1	25	35
2	45	60
3	61	80
4	75	91
5	88	100
6	100	108
7	111	114
8	121	119
9	129	123
10	135	126

Elli enjoys chips and coke and spends $64 a month on them. The table shows the utility she gets from each good.

1- What does utility schedule tells about Ellis preference.

2- calculate the utility maximization combination when chips price is $5 and coke is $4.

3- calculate the utility maximization combination when:

a. If price of chips drops to $4 and price of coke is $4 and budget is $60

b. If price of coke increase to $5 and price of chips is $5 and budget is $55

1. Mary enjoys classical CDs and travel books and spends $50 a month on them. The table shows the utility she gets from each good.

Quantity per month	Total utility from classical CDs	Total utility from travel books
1	30	30
2	40	38
3	48	44
4	54	46
5	58	47

a. Compare the two utility schedules. What do the two utility schedules tell you about Marys preferences?

b. If a classical CD and a travel book cost $10 each, how does Mary spend the $50 a month?

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