The total utility from consuming five cups of coffee is 15, 27, 37, 46, and 54 utils, respectively. The marginal utility of the fourth cup of coffee is:Group of answer choices48.54.9.6. Flag question: Question 39Question 39Tips3 ptsSuppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25 and that a student’s beverage budget is $20 per week. What is the algebraic expression of the budget?Group of answer choices
Question
The total utility from consuming five cups of coffee is 15, 27, 37, 46, and 54 utils, respectively. The marginal utility of the fourth cup of coffee is:Group of answer choices48.54.9.6. Flag question: Question 39Question 39Tips3 ptsSuppose a cup of coffee at the campus coffee shop is 1.25 and that a student’s beverage budget is $20 per week. What is the algebraic expression of the budget?Group of answer choices
Solution
The marginal utility can be calculated by subtracting the total utility of the previous quantity from the total utility of the current quantity. In this case, to find the marginal utility of the fourth cup of coffee, we subtract the total utility of three cups from the total utility of four cups.
So, the calculation would be:
MU = TU4 - TU3 MU = 46 utils (total utility of 4 cups) - 37 utils (total utility of 3 cups) MU = 9 utils
So, the marginal utility of the fourth cup of coffee is 9 utils.
For the second question, the algebraic expression of the budget can be represented as follows:
Let's denote the number of cups of coffee as C and the number of cups of hot tea as T. Given that a cup of coffee costs 1.25, and the student's budget is $20 per week, the algebraic expression of the budget constraint would be:
2.5C + 1.25T = 20
This equation represents all combinations of coffee and tea that the student can afford given their weekly budget of $20.
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