. The total utility of 3 units of good X is 22 and the total utility of 5 units of good X is 28. The marginal utility of the 5th unit of good X is equal to A) 6 B) 50 C) 22 D) 0 E) none of the above Becky's income increases from $2,000 per week to $2,400 per week. As a result, Becky decides to increase her demand for good x by 25 percent. Please fill in the blanks: We can conclude that good x is a(n) good and that Becky's demand for good x is Select one: a. normal; income elastic. b. inferior; price inelastic. C. basic; income elastic.
. The total utility of 3 units of good X is 22 and the total utility of 5 units of good X is 28. The marginal utility of the 5th unit of good X is equal to A) 6 B) 50 C) 22 D) 0 E) none of the above Becky's income increases from $2,000 per week to $2,400 per week. As a result, Becky decides to increase her demand for good x by 25 percent. Please fill in the blanks: We can conclude that good x is a(n) good and that Becky's demand for good x is Select one: a. normal; income elastic. b. inferior; price inelastic. C. basic; income elastic.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 15CTQ: Income Effects depend on the income elasticity of demand for each good limit you buy. If one of the...
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