Answered: The table shows the utility schedule…

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

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics

Section: Chapter Questions

Problem 1WNG

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Question

The table shows the utility schedule for a consumer of candy bars.

Number Consumed	Total Utility
0	0
1	5
2	11
3	18
4	24
5	30
6	35
7	32

Based on the data in the table, you can conclude that the

Multiple Choice

marginal utility of the seventh unit is 224.
marginal utility of the sixth unit is 35.
total utility of 4 units is 58.
total utility of 3 units is 18.

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

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