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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
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. Total Utility Marginal Utility Quantity Consumed No slices First slice Second slice 0 15 27 Third slice 37 Fourth slice 45 50 Fifth slice Sixth slice Seventh slice 51 b. Marginal utility first diminishes with slice number c. Marginal utility first turns negative with slice number
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