Suppose the following table reflects the total satisfaction (utility) derived from eating slices of pizza. Calculate the marginal utility of each slice of pizza and answer two questions about marginal utility. a. What is the marginal utility of each slice of pizza? Instructions: Complete each of the cells below. Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Quantity Consumed Total Utility Marginal Utility No slices 0 First slice 25 Second slice 50 Third slice 75 Fourth slice 90 Fifth slice 103 Sixth slice 100 Seventh slice 90 b. Marginal utility first diminishes with slice number c. Marginal utility first turns negative with slice number POLICY PERSPECTIVES Suppose the following demand exists for iPhone apps: iPhone Apps Tools $11 $10 iPhone Apps $9 Point A Point Price (per app) Quantity Demanded (millions) $8 $7 $10 2 $6 9 3 Point C Price (per app) $5 8 4 7 5 $4 6 $3 6 7 5 $2. Demand 4 8 $1 3 9 0 1 2 3 4 5 6 7 8 9 10 11 Quantity Demanded (millions of iPhone apps) Given the demand schedule and demand curve for iPhone apps, answer the following questions. a. At $9, what quantity is demanded? million b. If the price drops to $6, what quantity is demanded? million C. Along this price range, demand is d. If advertising convinces people to demand 3 million more apps at every price, how many apps will be demanded at a price of $9? million e. Graph the above answers, using point A for (a), point B for (b), and point for (d). Instructions: Use the tools provided 'Point A.' 'Point B,' and 'Point C' to plot individual quantities demanded on the graph