Question 6
MediumOriginal questionThe table shows a consumer's total utility from ice cream.
| Units of ice cream | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Total utility (utils) | 10 | 18 | 24 | 28 | 30 | 30 | 28 |
What is the marginal utility of the 3rd unit?
Show the answer and explanation
CorrectNot quiteAnswer A
Correct answer: A
Explanation
MU₃ = TU₃ − TU₂ = 24 − 18 = 6 utils.
Worth noting
24 is the total utility of 3 units, not the utility the 3rd unit adds.
- Concept
- MU from a TU schedule
- Typical timeTypical
- 70 s
- Your timeYours
- —
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