The marginal utility of the 8th can of beer isA. 10.B. 16.C. 86.D. 96.E. 187. Price of Can of Beer = $0.50Cans per Week12345678910Total Utility152942546575.758696105113Price of Slice of Pizza = $1.00Total UtilitySlices per Week12345678910326391115.75136154171187201213

Total utility is the economic term to measure satisfaction derived from consuming the good.

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The marginal utility of the 8th can of beer is A. 10. B. 16. C. 86. D. 96. E. 187.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter19: Elasticity

Section: Chapter Questions

Problem 9QP

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Question

The marginal utility of the 8th can of beer is

A. 10.

B. 16.

C. 86.

D. 96.

E. 187.

Price of Can of Beer = $0.50
Cans per Week
1
2
3
4
5
6
7
8
9
10
Total Utility
15
29
42
54
65
75.75
86
96
105
113
Price of Slice of Pizza = $1.00
Total Utility
Slices per Week
1
2345678
9
10
32
63
91
115.75
136
154
171
187
201
213

Definition Definition Satisfaction derived from the consumption of an additional unit of any commodity.

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