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

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 8SQP

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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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