Utility is a type of function that occurs in economics. When a consumer receives x units of a certain product, a certain amount of pleasure, or utility U, is derived. The graph represents a typical utility function. a) Find the average rate of change of U as x changes from 0 to 1; from 1 to 2; from 2 to 3; from 3 to 4. b) Why do the average rates of change decrease as x increases? AU 150- (4.149) Utility (pleasure units) 88 (3,128) (2,102) 100- (1,64) 50- 2 Number of units of product 3 a) The average rate of change of U as x changes from 0 to 1 is (Type an integer or a decimal.) The average rate of change of U as x changes from 1 to 2 is (Type an integer or a decimal.) The average rate of change of U as x changes from 2 to 3 is (Type an integer or a decimal.) The average rate of change of U as x changes from 3 to 4 is (Type an integer or a decimal.) b) Why do the average rates of change decrease as x increases? OA. The average rate of change is the ratio of the change in utility, U, divided by the change in number of units of product, x. While U is increasing as x increases, the change in U is decreasing. Therefore, the average rates of change decrease as x increases. B. The average rate of change is the ratio of the number of units of product, x, divided by the change in utility, U. While U is decreasing as x increases, the change in U is increasing. Therefore, the average rates of change decrease as x increases. OC. The average rate of change is the ratio of the number of units of product. x. divided by the change in utility. U. While U is increasing as x increases, the change in U is decreasing. Therefore. Time Remaining: 01:21:04 Next