Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 7 - Consumer Choice: Utility Theory and Insights from Neuroscience - Exercises - 7.2 The Law of Demand and the Individual Demand Curve - Page 178: 2.2e

Answer

(i)

Work Step by Step

The cost for rides and concerts equals \$100 at points d and e, but the MU per \$ are not the same. MU per \$ is 28 at d and 5 at e. $(15\times6)(5\times2)=(90)=(10)=100 \checkmark$
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