2P. A. Which one has a greater demand for movie tickets, Margaret or Delilah? Explain. B. What is `Margaret and Delilah”s aggregate demand for movie
2P. A. Which one has a greater demand for movie tickets, Margaret or Delilah? Explain. B. What is `Margaret and Delilah”s aggregate demand for movie tickets? Derive analytically and graph it. Question 4 (20 Points) The table below shows the maximum amount of money you would be willing to pay for increasing numbers of chicken pieces at KFC. A. Find the marginal utility (MU) for each chicken piece. What is the meaning of the MU of the 11th piece? B. If the price of chicken pieces is $1.25 each, how many will you buy? C. If the price falls to $0.50, how many will you buy? Explain carefully why you will not buy one more. D. Suppose now that KFC stops selling chicken pieces individually, and only sells them in 5-packs. The price of a 5-pack is $2.50. How many chicken pieces will you consume? E. What is the consumer surplus, or net benefit, that you get from purchasing chicken pieces at $0.50 as in c? Elasticity (Chapter 5) Question 5 (20 Points) Consider the market for rental
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