Question
Quantity Consumed Total Utility Marginal Utility 1 50 2 98 3 143 45 4 183 5 33 6 241 7 15 8 254 Refer to
Quantity Consumed | Total Utility | Marginal Utility |
1 | 50 | |
2 | 98 | |
3 | 143 | 45 |
4 | 183 | |
5 | 33 | |
6 | 241 | |
7 | 15 | |
8 | 254 |
Refer to the above information to answer this question.What is the marginal utility of the 3rd unit?
Select one:
A.143.
B.45.
C.30.
D.48.
E.Cannot be determined.
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Quantity Consumed | Total Utility | Marginal Utility |
1 | 50 | |
2 | 98 | |
3 | 143 | 45 |
4 | 183 | |
5 | 33 | |
6 | 241 | |
7 | 15 | |
8 | 254 |
Refer to the above information to answer this question.What is the total utility of 7 units?
Select one:
A.256.
B.25.
C.15.
D.271.
E.Cannot be determined.
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Question18
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Quantity Consumed | Total Utility | Marginal Utility |
1 | 50 | |
2 | 98 | |
3 | 143 | 45 |
4 | 183 | |
5 | 33 | |
6 | 241 | |
7 | 15 | |
8 | 254 |
Refer to the above information to answer this question.After the consumption of how many units will total utility be maximized?
Select one:
A.8.
B.4.
C.5.
D.7.
E.Cannot be determined.
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Quantity Consumed | Total Utility | Marginal Utility |
1 | 50 | |
2 | 98 | |
3 | 143 | 45 |
4 | 183 | |
5 | 33 | |
6 | 241 | |
7 | 15 | |
8 | 254 |
Refer to the above information to answer this question.How many units should this consumer purchase?
Select one:
A.1.
B.7.
C.8.
D.0.
E.Cannot be determined.
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The following table shows Pierre's utility for bagels and cider.
Quantity | Bagels: Marginal Utility | Cider: Marginal Utility |
1 | 20 | 20 |
2 | 10 | 16 |
3 | 8 | 12 |
4 | 3 | 9 |
5 | 1 | 4 |
Refer to the above information to answer this question.If Pierre has a budget of $12 and the price of each bagel and each cider are $2, what will be his optimal purchase based on MU for each consumption item?
Select one:
A.3 bagels and 3 ciders.
B.4 bagels and 2 ciders.
C.1 bagel and 5 ciders.
D.2 bagels and 4 ciders.
E.5 bagels and 1 ciders.
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The following table shows Pierre's utility for bagels and cider.
Quantity | Bagels: Marginal Utility | Cider: Marginal Utility |
1 | 20 | 20 |
2 | 10 | 16 |
3 | 8 | 12 |
4 | 4 | 9 |
5 | 1 | 3 |
Refer to the above information to answer this question.If Pierre has a budget of $12, the price of each bagel is $1 and each cider is $2, what will be his optimal purchase based on MU?
Select one:
A.2 bagel and 5 ciders.
B.6 bagels and 3 ciders.
C.10 bagels and 1 ciders.
D.8 bagels and 2 ciders.
E.4 bagel and 4 ciders.
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Table 5.13 | |
Quantity Consumed | Total Utility |
1 | 30 |
2 | 55 |
3 | 75 |
4 | 90 |
5 | 100 |
6 | 105 |
7 | 105 |
8 | 100 |
Refer to Table 5.13 to answer this question.What is the marginal utility of the 5th unit?
Select one:
A.20.
B.10.
C.100.
D.Cannot be answered from this information.
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Question23
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Table 5.13 | |
Quantity Consumed | Total Utility |
1 | 30 |
2 | 55 |
3 | 75 |
4 | 90 |
5 | 100 |
6 | 105 |
7 | 105 |
8 | 100 |
Refer to Table 5.13 to answer this question.With the consumption of what quantity is marginal utility equal to zero.
Select one:
A.7.
B.8.
C.5.
D.1.
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