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Marginal Utility Worksheet

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Unit II Assignment Worksheet
This worksheet is intended to help you develop the information you will use to complete your
Unit II Assignment.
Completing only this worksheet does not constitute completion of the Unit II Assignment.
You need to complete all parts of the assignment, which also include writing an essay about
the information you obtain in this worksheet. You will copy and paste your essay at the end
of this document where indicated, and then upload your assignment via SafeAssign.
Instructions:
1. Complete the Unit II Worksheet.
2. Use your Unit II Worksheet responses to help you formulate your ideas for writing your
essay; you are expected to expand on these questions when writing your essay.
3. Include your graphs in the areas indicated in this worksheet.
4. Copy and paste your essay in to this worksheet, then upload the entire assignment via
SafeAssign.
Part 1
Given the quantity of total movie tickets and total concession stand items consumed in a month
and the total utility derived at Ruby Red Movie Theater for each, calculate the marginal utility
and the marginal utility per dollar for movie tickets and average concession stand items.
Step 1: Calculate marginal utility and marginal utility per dollar for movie tickets.
Quantity of
Tickets
Consumed
Total
Utility
Marginal
Utility
Movie Ticket
Price
0
0
---
---
200
150
0.75
$10.00
400
275
0.625
$10.00
600
375
0.5
$10.00
800
450
0.375
$10.00
1,000
500
0.25
$10.00
1,200
525
0.125
$10.00
1,400
525
0
$10.00

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Step 2: Calculate marginal utility and marginal utility per dollar for concession stand items.
Quantity of
Concession
Stand Items
Consumed
Total
Utility
Marginal
Utility
Average Item
Price
Marginal Utility
Per Dollar for
Concession Items
0
0
---
---
---
400
200
0.5
$15.00
0.033
800
375
0.438
$15.00
0.029
1,200
525
0.375
$15.00
0.025
1,600
650
0.312
$15.00
0.021
2,000
750
0.25
$15.00
0.167
2,400
825
0.188
$15.00
0.013
2,800
875
0.125
$15.00
0.008
Part 1 Question 1: What quantity combination of movie tickets and concession stand items
would maximize utility?
Your Answers:
1200
Quantity of Movie Tickets
2400
Quantity of Concession Stand Items
Part 1 Question 2: What is the price of movie tickets and average price of concession stand
items?
Your Answers:
$10.00
Movie Ticket Price
$15.00
Concession Stand Items Average Price

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Unit II Assignment Worksheet This worksheet is intended to help you develop the information you will use to complete your Unit II Assignment. Completing only this worksheet does not constitute completion of the Unit II Assignment. You need to complete all parts of the assignment, which also include writing an essay about the information you obtain in this worksheet. You will copy and paste your essay at the end of this document where indicated, and then upload your assignment via SafeAssign. Instructions: 1. Complete the Unit II Worksheet. 2. Use your Unit II Worksheet responses to help you formulate your ideas for writing your essay; you are expected to expand on these questions when writing your essay. 3. Include your graphs in the areas indicated in this worksheet. 4. Copy and paste your essay in to this worksheet, then upload the entire assignment via SafeAssign. Part 1 Given the quantity of total movie tickets and total concession stand items consumed in a month and the total utility derived at Ruby Red Movie Theater for each, calculate the marginal utility and the marginal utility per dollar for movie tickets and average concession stand items. Step 1: Calculate marginal utility and marginal utility per dollar for movie tickets. Quantity of Tickets Consumed 0 Total Utility Marginal Utility Movie Ticket Price 0 --- --- Marginal Utility Per Dollar for Movie Tickets --- 200 150 0.75 $10.00 0.075 400 275 0.625 $10.00 0.063 600 375 0.5 $10.00 0.05 800 ...
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