This is an optional extra-credit question. Answer correctly…

This is an optional extra-credit question. Answer correctly and get up to 3 points to be added to your exam’s score (if your score is lower than 65 points).    There is an old saying that goes: “enough is as good as a feast”. Which economic concept that you learned in these chapters that are being tested today can you relate this to? Justify your answer by defining the concept and giving a brief example!   PS: this is not a file upload question, simply answer the question by typing your answer in the text field provided!

This is a file upload question. Please hand-write your solut…

This is a file upload question. Please hand-write your solution in a piece of paper, take a picture and upload your file (or send me through Canvas Inbox or at haruko.muratainouye@chaffey.edu). Typed answers will not be accepted!   Suppose a consumer has a choice between onions and apples. If Ponion = $2 and Papple = $3, and the consumer budget is $17,  answer the following: Marginal Utility for onions and apples Units MUonion MU/Ponion MUapple MU/Papple 1 10 5 2 8 4 3 2 3 4 2 2 5 1   2   Complete the table above finding the marginal utility per dollar (MU/P) for both onion and apple. Make sure to show your work for at least one row! Find the utility maximizing choice for this consumer. Show your work to justify your answer! You won’t receive credit if you only provide the final answer!

Below are three essay prompts. Choose two of these to answer…

Below are three essay prompts. Choose two of these to answer and write an essay length response under the question. These should have an introductory and concluding paragraph and multiple paragraphs in the body. They should be significantly more substantive than the short answer. Use examples where needed to explain your points. They are worth 20 points each.