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{"ops":[{"insert":"Assume that Smith consumes good X and his total utility function of good X is given by: \ud835\udc47\ud835\udc62\ud835\udc65 = 30\ud835\udc4b2 \u2013 0.5\ud835\udc4b3 I. Obtain \ud835\udc40\ud835\udc62\ud835\udc65 and \ud835\udc34\ud835\udc62\ud835\udc65 functions.\nII. At what level of good X, \ud835\udc40\ud835\udc62\ud835\udc65 will be maximum?\nIII. Find the value of total utility where \ud835\udc40\ud835\udc62\ud835\udc65 is maximum.\nIV. From what level of good X, law of diminishing marginal utility will start to operate?\nV. Find the value of good X where \ud835\udc40\ud835\udc62\ud835\udc65 curve cuts the \ud835\udc34\ud835\udc62\ud835\udc65 curve at its maximum.\nVI. At what level of good X, \ud835\udc40\ud835\udc62\ud835\udc65 \ud835\udc52\ud835\udc5e\ud835\udc62\ud835\udc4e\ud835\udc59 \ud835\udc34\ud835\udc62\ud835\udc65 . What is their values at this unit of good X.\nVII. How many units of good X, he should consume to get the maximum satisfaction? What is the maximum value of total satisfaction at this point?\nVIII. Frome what unit of good X, \ud835\udc40\ud835\udc62\ud835\udc65 become negavtive?\nIX. Estimate the value of \ud835\udc34\ud835\udc62\ud835\udc65 \ud835\udc64\u210e\ud835\udc52\ud835\udc5b \ud835\udc40\ud835\udc62\ud835\udc65 is maximum?\nX. Draw the \ud835\udc47\ud835\udc62\ud835\udc65 , \ud835\udc40\ud835\udc62\ud835\udc65 and \ud835\udc34\ud835\udc62\ud835\udc65 curves on a graph and indicate the above all values on the graphs.\n"}]}

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