Asked by Larry Egerton on Jun 01, 2024
Verified
The additional utility from her purchase of a third pack of trading cards would be
A) $8.
B) $9.
C) $19.
D) $27.
E) None of the choices are true.
Additional Utility
The extra satisfaction or pleasure a consumer gains from consuming an additional unit of a good or service, also known as marginal utility.
Trading Cards
Collectible cards, typically related to sports, films, or video games, that feature images and information and are traded among fans.
- Estimate marginal and total utility from the data provided.
Verified Answer
ZK
Zybrea KnightJun 07, 2024
Final Answer :
A
Explanation :
To determine the additional utility or satisfaction from purchasing the third pack of trading cards, we need to compare the total utility or satisfaction of having two packs of cards to the total utility or satisfaction of having three packs of cards.
Let's say the total utility of having two packs of cards is 20 and the total utility of having three packs of cards is 28.
The additional utility from purchasing the third pack of cards would be the difference between these two values:
28 - 20 = 8
Therefore, the answer is A) $8.
Let's say the total utility of having two packs of cards is 20 and the total utility of having three packs of cards is 28.
The additional utility from purchasing the third pack of cards would be the difference between these two values:
28 - 20 = 8
Therefore, the answer is A) $8.
Learning Objectives
- Estimate marginal and total utility from the data provided.