Martha spends 5 hours of free time exercising and playing music per day. The table below represents the level of utility she receives from the various combinations of exercise and music activities. For instance, if she only plays music, her total utility from exercise will be 0, and the utility from music will be 50. If she exercises for 1 hour, she will receive a level of utility of 25. Utility is measured in 'utils'; those numbers are arbitrary and designed to quantify the benefits received from various actions. Utility Utility from from Exercise Music 50 utils O utils from from 5 O hours of exercise hours of music 45 utils from 4 hours of music 25 utils for 1 hours of exercise 40 35 45 20 50 The utility patterns in the table illustrate the law of marginal diminishing utility because...
Martha spends 5 hours of free time exercising and playing music per day. The table below represents the level of utility she receives from the various combinations of exercise and music activities. For instance, if she only plays music, her total utility from exercise will be 0, and the utility from music will be 50. If she exercises for 1 hour, she will receive a level of utility of 25. Utility is measured in 'utils'; those numbers are arbitrary and designed to quantify the benefits received from various actions. Utility Utility from from Exercise Music 50 utils O utils from from 5 O hours of exercise hours of music 45 utils from 4 hours of music 25 utils for 1 hours of exercise 40 35 45 20 50 The utility patterns in the table illustrate the law of marginal diminishing utility because...
Chapter21: Demand: Consumer Choic
Section: Chapter Questions
Problem 1E
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Transcribed Image Text:Martha spends 5 hours of free time exercising and playing music per day. The table below
represents the level of utility she receives from the various combinations of exercise and music
activities. For instance, if she only plays music, her total utility from exercise will be 0, and the utility
from music will be 50. If she exercises for 1 hour, she will receive a level of utility of 25. Utility is
measured in 'utils'; those numbers are arbitrary and designed to quantify the benefits received from
various actions.
Utility
Utility from
from
Exercise
Music
50 utils
from 5
hours of
O utils from
O hours of
exercise
music
25 utils for
1 hours of
exercise
45 utils
from 4
hours of
music
40
35
45
20
50
The utility patterns in the table illustrate the law of marginal diminishing utility because...
LO
Transcribed Image Text:The utility patterns in the table illustrate the law of marginal diminishing utility because.
O The increase in utility for each additional hour Martha exercises falls
O The total utility Martha receives from music decreases
O Martha receives the most utility from a combination of music playing and exercise, any other combination
shows diminishing total utility
O The total utility Martha receives from exercise decreases
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