Mitch and bill are both age 75. when mitch was 25 years old, he began depositing $1500 per year into a savings account. he made deposits for the first 10 years, at which point he was forced to stop making deposits. however, he left his money in the account, where it continued to earn interest for the next 40 years. bill didn't start saving until he was 45 years old, but for the next 30 years he made annual deposits of $1500. assume that both accounts earned an average annual return of 6% (compounded once a year). complete parts (a) through (d) below.

Select the word from the list that best fits the definition sometimes

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.

David consumes two things: gasoline (g) and bread (b). david's utility function is u(g, b) = 10g^0.25 b^0.75. use the lagrange technique to solve for david's optimal choices of gasoline and bread as a function of the price of gasoline, p_g, the price of bread, p_b, and his income m. with recent decrease in the price of gasoline (maybe due to external shock such as shale gas production) does david increase his consumption of gasoline? for david, how does partial differential g/partial differential p_g depend on his income m? that is, how does david's change in gasoline consumption due to an increase in the price of gasoline depend on his income level? to answer these questions, find the cross-partial derivative, |partial differential^2 g/partial differential m partial differential p_g.