Solved

If a Consumer Receives 20 Units of Utility from Consuming

Question 123

Multiple Choice

If a consumer receives 20 units of utility from consuming two chocolate bars, and 25 units of utility from consuming three chocolate bars, the marginal utility of the second chocolate bar is


A) 25 utility units.
B) 20 utility units.
C) 5 utility units.
D) unknown as more information is needed to determine the answer.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q118: To maximise utility, consumers should buy goods

Q119: Figure 6.1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1015/.jpg" alt="Figure 6.1

Q120: What does the economic model of consumer

Q121: When is a good path dependent?<br>A)When consumers

Q125: A new area of economics studies situations

Q127: In the utility maximising model, consumer preferences

Q178: What is a Giffen good?

Q241: Total utility is constant along a given

Q256: Explain the concept of network externalities.

Q274: An economist observes two consumers in a