What is the marginal utility of the next concert

Assignment Help Business Economics

Reference no: EM131161977

Suppose Al is currently consuming four movies and four concerts per month. If his utility function is given by U = 15M0.5C, where M represents the number of movies consumed and C represents the number of concerts attended, what is the marginal utility of the next concert Al will attend?

Reference no: EM131161977

Questions Cloud

What factors will shift the supply and demand for currency : What factors will shift the supply and demand for currency? What are the three categories of transactions in the balance of payments? Give an example of each. Economists sometimes say that the current exchange rate system is a dirty float system. Wha..

Fixes the price of foreign exchange below equilibrium : Explain how each of the following will affect the relative values of the dollar and the French franc: What will happen to a country that fixes the price of foreign exchange below equilibrium?

Economic performance during the past five years : Compare and contrast China and U.S economic performance during the past five years. Please make use of time series data on employment, inflation,GDP, and trade balances. Tables and graphs are strongly encouraged.

Differences how democratic party and republican party : Are there differences in how the Democratic Party and the Republican Party view the economy? What are the differences if any?

What is the marginal utility of the next concert : Suppose Al is currently consuming four movies and four concerts per month. If his utility function is given by U = 15M0.5C, where M represents the number of movies consumed and C represents the number of concerts attended, what is the marginal utilit..

Interest contributions to national political campaigns : A limit on special-interest contributions to national political campaigns

Difference between revenues and costs : The fire department receives its revenues from the government budget, not on a per-fire-extinguished basis. As a result, it is difficult for department officials to know if the fire department is even needed too much or too little fire protection is ..

Labor equals the marginal resource cost of capital : If a firm is maximizing profit and the marginal revenue product of labor is $10 and the marginal revenue product of capital is $30, then the marginal resource cost of labor is $3, and the marginal resource cost of capital is $3 the marginal resource ..

Community emergency warning sirens : A public good, such as a community's emergency warning sirens

User Account

All Pages