Answer:
The marginal utility per dollar spent for the second burger is 4 utils and the utility per dollar spent for the second burger is 4.5 utils.
Explanation:
The marginal utility for the second burger is 8 utils. The price of the second burger is $2. Hence, the marginal utility per dollar spent for the second burger is (8 utils / $2), which is 4 utils.
The (total) utility after consuming the second burger is (10 utils + 8 utils), which is 18 utils. The total price of the two burgers is ($2 + $2), which equals $4. Therefore, the utility per dollar spent for the second burger is (18 utils / $4), which equals 4.5 utils.
Answer:
The marginal utility per dollar spent for the second burger is 4 utils and the utility per dollar spent for the second burger is 4.5 utils.
Explanation:
