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1. The table below shows Hanne's demand for mini cupcakes. a) Complete the table below. [4 marks] Quantity MU TU 56 56 2 186 49

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1. The table below shows Hanne's demand for mini cupcakes. a) Complete the table below. [4 marks] Quantity MU TU 56 56 2 186 49 100 3 30 130 4 21 151 16 167 6 8 1 75 7 0 1 75 8 170 b) At what quantity is total utility maximized? [1 marks] 6 and + c) What is the value of marginal utility at this quantity? [1 mark] d) What do your answers to (b) and (c) tell us? [2 marks] 80 7

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