Complete question :
If the price of an apple is $0.50, the marginal utility per dollar spent for the fifth apple is:
Number of apples ____total utility
2__________________130
3__________________180
4__________________220
5__________________250
6__________________270
7__________________280
Answer:
60
Explanation:
The marginal utility simply refers to the change or extra satisfaction derived with change in consumption.
Hence, the marginal utility of the fifth apple equals :
Difference /change or extra satisfaction derived by consuming one more than 4 apples = (total utility of 5th apple - total utility of 4th apple)
= (250 - 220) = 30
Hence, marginal utility per dollar :
Marginal utility / price per apple
Price per apple = $0.5
Marginal utility of 5th apple = 30
Therefore,
30 / 0.5
= 60
I'm glad I've been given the opportunity it's to go to school and study because I understand in some countries, they are some who aren't blessed to go to school and learn. At times, it does get difficult making me not want to go to school but it's the only thing we all have to become successful in life in my opinion. Sometimes it gets tough with stress and pressure from parents and whatnot, but in the end, if you give it your all, you will be good.
Given the description of the meaning of "residence time," you must conclude ...
... D. Substances that have a shorter residence time do not stay in the atmosphere as long.
