Micro Economics For Today
Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Chapter 6, Problem 1SQ
To determine

 The meaning of term utility.

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What is the definition of marginal​ utility?   A. The average utility from consuming a good or service multiplied by the number of units of that good or service consumed.   B. Utility measured in utils.   C. The utility from consuming a good or service divided by the number of units of that good or service consumed.   D. The change in utility from consuming an additional unit of a good or service.   E. The enjoyment or satisfaction people receive from consuming goods and services.
Which of the following statement is true?A. Marginal Utility is the additional satisfaction gained by the consumer in consuming the first glass of water.B.The value of a glass of water to a consumer depends on its average revenue.C.The marginal utility  of pearl is higher than water.D.The additional utility of consuming one more glass of water is greater than buying one more pearl.
If a consumer's marginal utility was 10 utils per unit of meat and 5 utils per unit of potatoes:   a. the consumer should purchase less potatoes and more meat to maximize his satisfaction. b. the consumer would be in equilibrium if the per-unit price of meat was twice the price of potatoes. c. the consumer would be in equilibrium if the price per unit of meat was half the price of potatoes. d. the consumer's total utility could be increased by consuming more potatoes and less meat until the marginal utilities of the two goods were equal.
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