# Microeconomics Worksheet

Anonymous
account_balance_wallet \$20

Question description

should follow APA format with citations to your sources and, at the bottom of your last page, a list of

references. Your answers should also be in Standard English with correct spelling, punctuation,

grammar, and style (double spaced, in Times New Roman, 12

point, and black font). Respond to

questions in a thorough manner, providing specific examples of concepts, topics, definitions, and

other elements asked for in the questions.

CristinaP
School: Purdue University

Attached.

Unit 4

BU224 | Microeconomics

Unit 4 Assignment: Elasticity of Demand
Name:
Course Number and Section: BU224–0X
Date:
Questions
1. Jane has been working all day, missing both her breakfast and lunch. Finally able to leave
work, after being required to work a couple of hour’s overtime, she is starving. Jane has \$20 in
her pocket, so she stops at a local fast food restaurant and orders a grilled chicken sandwich
(somewhat healthy) and fries (not so healthy). As she sits down to eat them, a University
student approaches her and tells her that she is doing a research project for her
microeconomics course, and would like to ask Jane a few quick questions. Jane agrees and
the student asks what “score” (Marginal Utility) from 1 to 100 would she give as her satisfaction
level with the 1st sandwich and the 1st fries? After eating that order, Jane is still hungry and
orders a second chicken sandwich and another fries. Again, the student asks Jane to give her
new scores. Since Jane has not eaten all day, she is hungry enough to order a third round of
food and again gives “scores” to the inquisitive student.
Below is the University student’s completed experiment tally sheet of Jane’s marginal utility
“scores” and the calculation of her marginal utility per dollar, given that each sandwich costs \$4.00
and each order of fries costs \$2.00, along with her budget of \$20. The student filled in the sh...

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Anonymous
Thanks, good work

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