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vodomira [7]
3 years ago
5

Hey,guys I need help

Advanced Placement (AP)
1 answer:
garik1379 [7]3 years ago
6 0
A. Growing industrialization, more small farmers
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John gets a weekly allowance of $20 from his parents. The only thing he has a real interest in buying is a big slice of pizza af
IRISSAK [1]

From the above table we can see the MU from consumption of 6th spice is zero. Therefore, John will consume 5 slices of Pizza.

<h3> If John purchased 8 slices, what total utility would he enjoy?</h3>

When he consumes 8 slices of Pizza then the total utility that he will derive will be:

TU = 20 + 12 + 10 + 6 + 2 + 0- 2 - 6

= 42 utils.

<h3>What is the complete table that shows the marginal utility per dollar for each slice of pizza and each funnel cake?</h3>

See the attached table I in the attached.

<h3>Assuming John’s parents do not allow him to use any savings, what is his optimal consumption bundle of pizza and funnel cakes? </h3>

When John expends all of his income and cannot use his savings, he will maximize his overall utility.

Then he will maximize his TU when the MU/$ of the two commodities are equal. According to the preceding data, the MU/$ is equivalent for the following combinations. See table II in the attached.

From the chart above, we can see that he can spend up to $ 20 if he consumes three pieces of pizza and four funnel cakes.

However, because he cannot spend his funds, he will have fewer than three slices and four funnel cakes.

As a result, he will give up 1 slice of pizza because the third slice provides him a MU of 10 utils and the fourth piece of Funnel cake gives him a MU of 20 utils.

The optimal consumption basket contains two pieces of pizza and four funnel cakes.

<h3>At John’s optimal consumption bundle, what total utility will he gain?</h3>

Total Utility is given as:

(20+12)+(50+40+32+20)

= 32 + 142

= 174 utils.

Learn more about utility at;
brainly.com/question/24922430
#SPJ1

Download xlsx
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Describe ONE difference between the level of industrialization typically seen in more developed countries and the level seen in
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Industrialized countries have a greater capacity to produce goods and services than other countries.

Industrialization is a term that refers to the production of goods and services. Industrialization is related to the development of new technologies and machines to optimize production processes.

According to the above, more developed countries have a greater capacity to produce goods and services, such as the United States, Russia, Japan, and China, because much of its economy is based on the production of services and goods. On the other hand, less developed countries (also known as developing or underdeveloped countries) do not yet have a high capacity to produce goods and services. On the contrary, their economies are based on other fields such as agriculture or resource extraction.

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