The price of lottery ticket is$2, the price of a candy bar is $10,and jerry has
ID: 1188221 • Letter: T
Question
The price of lottery ticket is$2, the price of a candy bar is $10,and jerry has $20 a week to spend . Calculate jerrys marginal utility from the second lottery ticket and marginal utility per dollar when he buys 2 lottery tickets. calculate jerrys marginal utility from first candy bar and marginal utility per dollar when he buys 1 candy bar.
lottery tickest candy bar
quantity per weeks total utility quantity per weeks total utility
0 0 0 0
1 120 1 250
3 220 2 250
2 220 2 450
3 300 3 600
4 360 4 700
A. jerrys marginal utility from the second lottery ticket is ........... units.
B. the marginal utility per dollar from lottery ticket when jerry buys 2 lottery tickets is.......... unit per dollar
C. jerrys margial utility per dollar from candy bar is .........UNITS
D. the marginal utility per dollar from candy bars when jerry buys 1 candy bar is ..... units per dollar
Explanation / Answer
a .225 b.350 c.400 d.650
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