Business

Nina Barron

7 May, 04:33

Basil is maximizing his utility from consuming tea and crumpets. If the marginal utility of the last crumpet was 32 units of utility and the prices of tea and crumpets are 4 and 8, respectively, what was the marginal utility of the last cup of tea Basil consumed?

a. 2 units of utility

b. 12 units of utility

c. 6

d. 128 units of utility

e. 16 units of utility

+1

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question ✅ “Basil is maximizing his utility from consuming tea and crumpets. If the marginal utility of the last crumpet was 32 units of utility and ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.

Search for Other Answers

You Might be Interested in

What is deluge system for fire protection?

What is one difference between a firm in a perfectly competitive industry and a firm in a monopolistically competitive industry? A) A monopolistically competitive firm does not face a downward-sloping demand curve.

A reason to hold inventory arises when an organization anticipates that an unusual event might occur that will negatively impact its source of supply.

Jamie earned $14 in interest on her savings account last year. She has decided to leave the $14 in her account so that she can earn interest on the $14 this year. The interest earned on last year's interest earnings is called:

You eat an entire box of cookies the night before you attend a weight watchers meeting. this is an example of

New Questions in Business

What is remittance advice note?

Dartmouth College professor M. Eric Johnson, in collaboration with Tiversa, Inc., a company that monitors peer-to-peer networks to provide security services, wrote an article titled "Data Hemorrhages in the Health-Care Sector.

Mr. Jackson purchases a home for $90,000. He paid $4,000 as an earnest money deposit, and is obtaining an 80% loan. Costs include $250 for title insurance, recording fees of $60, and a tax proration fee of $430. Mr.

The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 310,000 $ 35 B 410,000 40 C 510,000 15 D 710,000 20 The fund has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals

Why do companies using a horizontal structure have cultures that emphasize openness, employee empowerment, and responsibility? What do you think a manager's job would be like in a horizontally organized company?