ECS1501 ASSIGNMENT 11 SEMESTER 1 2023

,Assessment 11 (page 2 of 13) https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=11




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Question 2
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Market demand is found by



multiplying the individual quantities demanded at each price.
adding the individual quantities demanded at each price.
multiplying the individual prices at each quantity demanded.
adding the individual prices at each quantity demanded.

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Question 3
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Thea purchases a combination of dishwashing detergent and floor wax such that MUdishwashing detergent/Pdishwashing detergent = 50 and
MUfloor wax/Pfloor wax = 30. To maximise utility, Thea should buy _____ dishwashing detergent _____ floor wax.



more; more
more; less
less; more
less; less

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This question is based on the following table showing Cobus’ consumption of biltong sticks.

Number of 0 1 2 3 4 5 6 7
biltong
sticks

Total utility 0 20 35 45 50 50 45 35



Cobus’ marginal utility becomes negative when he eats ____ biltong sticks.




Answer: 6




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