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Answer the questions bellow: it has to be original answers - do not plagiarize

Date Posted: 15/07/2018
Category: Economics
Due Date: 15/07/2018
Instruction
The new episode of Baskets just came out. You have watched it six times today and experienced the units of utility per listen shown below: LISTEN UTILITY 1 20 2 19 3 16 4 11 5 4 6 - 5 1) Using excel or neatly creating by hand and scanning, draw a graph (as seen in the assigned learning materials for the week) showing marginal utility based on the material above. Explain what it means with specific reference to the numbers used in the graph. 2) Create a graph of total utility. Explain what it means based on the numbers calculated. 3) In order to maximize utility, how many times should the show be watched? Provide an explanation. 4) In terms of utility, what could motivate you to switch from another activity and begin watching the show? 5) How can marginal utility be used as a guiding principle when deciding how many people your firm should hire? Provide an original example.
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