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  • Group Quiz Econone

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    Sherbs Solis
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    1) The document provides instructions for a group quiz. Students are asked to submit their answers in a Word document with a specific naming format depending on if they are in a group or working individually. The quiz contains 3 questions about marginal utility, total utility, and budgeting monthly grocery items. 2) The second question asks students to compute the pure purchase decision if given 4000 pesos to spend on either toiletries priced at 200 pesos each or food items priced at 100 pesos each, and to present the results in a graph. 3) The third question asks what compromise purchase decision students would make if trying to buy both toiletries and food items with the 4000 peso budget.

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    1) The document provides instructions for a group quiz. Students are asked to submit their answers in a Word document with a specific naming format depending on if they are in a group or working individually. The quiz contains 3 questions about marginal utility, total utility, and budgeting monthly grocery items. 2) The second question asks students to compute the pure purchase decision if given 4000 pesos to spend on either toiletries priced at 200 pesos each or food items priced at 100 pesos each, and to present the results in a graph. 3) The third question asks what compromise purchase decision students would make if trying to buy both toiletries and food items with the 4000 peso budget.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    5 views1 page

    Group Quiz Econone

    Uploaded by

    Sherbs Solis
    1) The document provides instructions for a group quiz. Students are asked to submit their answers in a Word document with a specific naming format depending on if they are in a group or working individually. The quiz contains 3 questions about marginal utility, total utility, and budgeting monthly grocery items. 2) The second question asks students to compute the pure purchase decision if given 4000 pesos to spend on either toiletries priced at 200 pesos each or food items priced at 100 pesos each, and to present the results in a graph. 3) The third question asks what compromise purchase decision students would make if trying to buy both toiletries and food items with the 4000 peso budget.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    GROUP QUIZ (Quiz number 5) Answer/solve the following questions.

    DO NOT WRITE the


    name of any group member of yours in this quiz IF THEY ARE ABSENT for today’s asynchronous
    activity. Submit to me via CHAT your group quiz following this format:
    GROUPQUIZ5@Econone You have until 10 AM to submit this. Submit this in WORD
    DOC.

    IF you are not a member of a group, and doing your paper/presentation alone, then
    submit this quiz INDIVIDUALLY but FOLLOW this format: QUIZ5@Econone
    1. What makes marginal utility and total utility different? Give one situation where the law of
    diminishing marginal utility is applied in daily life and explain your answer.

    2. Supposed you are given 4000 pesos to purchase monthly grocery items and you decide to
    budget it based on either of the two categories:

    a. Toiletries budgeted at 200 pesos per item and,


    b. Food items budget at 100 per item.

    Compute the pure purchase decision of each category and present your answer using a graph. In
    your graph, mark the y-axis as toiletries and x-axis as grocery items.
    3. If for instance you decide to purchase both items with the value (4000 pesos) given, what
    would be your compromise decision of the two items you desire to procure? Explain.

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