Assume the Utility Janet Obtains from Consuming Apples Is Given

question 2

Essay

Assume the utility Janet obtains from consuming apples is given in the table below.
(a) Draw the graphs for Jane's total utility curve and marginal utility curve for apples.
(b) At what point does diminishing marginal utility set in?
(c) What is the maximum satisfaction (total utility) she can obtain from consuming apples?
(d) If Janet is at her level of maximum utility from apple consumption, what will happen to her level of utility if she consumes an additional apple?
(e) If apples were freely given away at zero cost, how many apples would she choose to consume? $$\begin{array} { c c c } \text { Number of apples } & \text { Total Utility } & \begin{array} { c } \text { Marginal } \\\text { Utility }\end{array} \\1 & 7 & 7 \\2 & 13 & 6 \\3 & 18 & 5 \\4 & 22 & 4 \\5 & 25 & 3 \\6 & 27 & 2 \\7 & 28 & 1 \\8 & 28 & 0 \\9 & 27 & - 1 \\10 & 25 & - 2\end{array}$$ Note: Marginal utility should be interpreted as between levels of total utility, so that the marginal utility between 0 and 1 apple is 7, and the marginal utility between 1 and 2 apples is 6.

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