Questions: The following table shows Ellie's utility from consuming slices of pie and cans of Dr. Pepper. Slices of Pie Marginal Utility from Last Slice Cans of Dr. Pepper Marginal Utility from Last Can --- --- --- --- 0 - 0 - 1 120 1 120 2 100 2 60 3 80 3 45 4 60 4 30 5 40 5 20 6 20 6 15 Suppose Ellie has 6 per week to spend on pie and Dr. Pepper and that the price of a slice of pie is 1.00. 1.) Use the point drawing tool to plot Ellie's demand for Dr. Pepper at a price of 2.00. Label this point 'A': 2.) Use the point drawing tool to plot Ellie's demand for Dr. Pepper at a price of 0.50. Label this point 'B'. 3.) Use the line drawing tool to connect the dots to form Ellie's demand curve. Properly label this line. Carefully follow the instructions above, and only draw the required objects.
Transcript text: The following table shows Ellie's utility from consuming slices of pie and cans of Dr. Pepper.
\begin{tabular}{cccc}
\hline \begin{tabular}{c}
Slices \\
of \\
Pie
\end{tabular} & \begin{tabular}{c}
Marginal Utility \\
from Last Slice
\end{tabular} & \begin{tabular}{c}
Cans \\
of \\
Dr. Pepper
\end{tabular} & \begin{tabular}{c}
Marginal \\
Utility from \\
Last Can
\end{tabular} \\
\hline 0 & - & 0 & - \\
1 & 120 & 1 & 120 \\
2 & 100 & 2 & 60 \\
3 & 80 & 3 & 45 \\
4 & 60 & 4 & 30 \\
5 & 40 & 5 & 20 \\
6 & 20 & 6 & 15 \\
\hline
\end{tabular}
Suppose Ellie has $\$ 6$ per week to spend on pie and Dr. Pepper and that the price of a slice of pie is $\$ 1.00$.
1.) Use the point drawing tool to plot Ellie's demand for Dr. Pepper at a price of $\$ 2.00$. Label this point 'A':
2.) Use the point drawing tool to plot Ellie's demand for Dr. Pepper at a price of $\$ 0.50$. Label this point 'B'.
3.) Use the line drawing tool to connect the dots to form Ellie's demand curve. Properly label this line.
Carefully follow the instructions above, and only draw the required objects.
Solution
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