Use the table below to answer the following question. Table 5 Quantity Total Utility Marginal...
Question:
Use the table below to answer the following question.
Table 5
| Quantity | Total Utility | Marginal Utility |
| 0 | 0 | 0 |
| 1 | 30 | 30 |
| 2 | A | 12 |
| 3 | B | 5 |
| 4 | 50 | C |
Refer to Table 5. The value of B is:
A) 42.
B) 30.
C) 0.
D) 47.
E) 18.
Utility:
For consumers, utility is the feeling of satisfaction or the receiving of benefits when they consume outputs. It is presented quantitatively in utils. The marginal utility shows the change in utility if it consumers more outputs.
Answer and Explanation: 1
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View this answerSince marginal utility is an additional utility, the value of B can be computed by adding the marginal utility of 1 to 3 units.
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What is Marginal Utility? - Definition, Theory, Formula & Example
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Learn about marginal utility and how it is calculated. Explore the basics of marginal utility, the marginal utility equation, and how it is applicable in economics.
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