The table shows the total utility Ann derives from eating portions of salad. •How much marginal utility does Anna derive from the third portion of salad? •After eating how many portions of salad does marginal utility start to decline? •If the portions of salad were free, what is the maximum number of them Anna would eat in a week? •On separate diagrams, construct Anna’s total utility and marginal utility curves for salad. •Does the law of diminishing marginal utility hold? How do you know? Portion of salad/evening Total utility 0 0 1 30 2 48 3 60 4 70 5 78 6 80 7 76
The table shows the total utility Ann derives from eating portions of salad. •How much marginal utility does Anna derive from the third portion of salad? •After eating how many portions of salad does marginal utility start to decline? •If the portions of salad were free, what is the maximum number of them Anna would eat in a week? •On separate diagrams, construct Anna’s total utility and marginal utility curves for salad. •Does the law of diminishing marginal utility hold? How do you know? Portion of salad/evening Total utility 0 0 1 30 2 48 3 60 4 70 5 78 6 80 7 76
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 3SQP
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The table shows the total utility Ann derives from eating portions of salad.
•How much marginal utility does Anna derive from the third portion of salad?
•After eating how many portions of salad does marginal utility start to decline?
•If the portions of salad were free, what is the maximum number of them Anna would eat in a week?
•On separate diagrams, construct Anna’s total utility and marginal utility curves for salad.
•Does the law of diminishing marginal utility hold? How do you know?
Portion of salad/evening |
Total utility |
0 |
0 |
1 |
30 |
2 |
48 |
3 |
60 |
4 |
70 |
5 |
78 |
6 |
80 |
7 |
76 |
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