The table shows the utility schedule for a consumer of candy bars.Number Consumed01234567Based on the data in the table, you can conclude that theMultiple ChoiceOTotalUtility05111824303532marginal utility of the second unit is 11.marginal utility of the third unit is 54.total utility of 6 units is 123.

The Marginal utility refers to change in the total utility when one additional unit of good is…

Answered: The table shows the utility schedule…

The table shows the utility schedule for a consumer of candy ba Number Consumed 0 1 2 3 4 5 6 7 Total Utility 0 5 11 18 24 30 35 32 Based on the data in the table, you can conclude that the

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The table shows the utility schedule for a consumer of candy bars.
Number Consumed
0
1
2
3
4
5
6
7
Based on the data in the table, you can conclude that the
Multiple Choice
O
Total
Utility
0
5
11
18
24
30
35
32
marginal utility of the second unit is 11.
marginal utility of the third unit is 54.
total utility of 6 units is 123.

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