Economics

The following postbhas two assignemnts namely;

1.Economics

Marc is shopping for pencil cases and candles. He has a budget of $100. The price of a pencil cases is $20 and the price of candles is $5.

a) Complete the table-(2 marks)

Pencil cases Candles
Quantity TU MU MU/P Quantity TU MU MU/P
0 0 0 0
1 220 1 85
2 400 2 150
3 540 3 195
4 640 4 220
5 700 5 235

b) Conclude whether or not we follow the law of diminishing MU-(1.5 marks)

c) What is optimal combination of pencil cases and candles? (2 marks)

c) Draw the Total utility (TU) and Marginal Utility (MU) for candles and then conclude.

2.Stevenson’s position regarding the death penalty

Stevenson’s position regarding the death penalty is made clear in his novel. Using evidence from Just Mercy and from your research, argue your own position about the death penalty. Is the death
penalty a necessary consequence of crime society support ?

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