Suppose you are at a restaurant and your favorite dish costs $20. You are willing to pay up to $17 for your next favorite dish.

Question

4 years ago

13

If your next-favorite dish gives you 100 utils, how many additional utils do you need from your favorite dish to spend the extra $3?

2 answers:

belka [17] · Answer 1 · 2022-01-29T14:38:36+03:00

Answer:

I need an additional 17.646 utils.

Explanation:

Amount I am willing to pay for my next favorite dish is $17

Number of utils that $17 can give me is 100

Therefore, $1 would give me (100 ÷ 17) utils = 5.882 utils

To spend the extra $3, I need an additional utils of (5.882×3) = 17.646

Andreyy89 · Answer 2 · 2022-01-29T12:17:13+03:00

Andreyy894 years ago

4 0

Answer:

$17 gives 100 utils

So, $1 gives 100/17 utils

which implies that $20 gives (100/17)*20 = 117.65

So additional utils = $117.65 - $100 = $17.65

Hence, $17.65 is the additional utils

Explanation: