01 Jun Question 1. award: 4.16 out of 4.16 points Question and Exercise 19-1
Question
1.
award:
4.16 out of
4.16 points
Question and Exercise 19-1
Explain how marginal utility differs from total utility.
Marginal utility is the satisfaction .
Total utility is the satisfaction .
2.
award:
4.16 out of
4.16 points
Question and Exercise 19-2
According to the principle of diminishing marginal utility, marginal utility as more of a good is consumed and as less of a good is consumed.
3.
award:
4.16 out of
4.16 points
Question and Exercise 19-3
Complete the following table of Scout’s utility from drinking cans of soda and answer the questions below.
Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
| Cans of Soda | Total Utility | Marginal Utility |
| 0 | 0 | |
| 1 | 10 | |
| 2 | 22 | 12 |
| 3 | 32 | |
| 4 | 8 | |
| 5 | 4 | |
| 6 | 44 | |
| 7 | 42 |
a. At what point does marginal utility begin to fall?
Marginal utility falls with the soda.
b. Will Scout consume the 7th can of soda? Explain your answer.
.
c. True or false? Scout will be following the utility-maximizing rule by consuming 2 cans of soda. Explain your answer.
.
4.
award:
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