Consider the Following Table, Which Gives Utility Numbers for "Good

question 26

Essay

Consider the following table, which gives utility numbers for "Good X." Marginal in this table represents values between levels of total utility. $$\begin{array} { | c | c | c | } \hline \text { Units of Good X } & \text { Total Utility } & \text { Marginal Utility } \\\hline 0 & 0 & \\\hline 1 & 10 & \\\hline 2 & & 12 \\\hline 3 & 36 & \\\hline 4 & 52 & \\\hline 5 & & 18 \\\hline 6 & & 20 \\\hline\end{array}$$ (a) Fill in the blanks of the table.
(b) Draw a picture illustrating the relationship between Units of Good X (horizontal axis) and Marginal Utility (vertical axis).
(c) What does the picture you drew for part (b) say about a consumer's satisfaction when increasing consumption of Good X?
(d) How is this example different than what we typically expect to find?

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Definitions:

Remembering

The process by which past experiences are recalled or retrieved from memory.

Prospective Memory

It represents the part of memory that deals with recalling planned activities or intentions at a predetermined time in the future.

Odor

A smell produced by one or more volatilized chemical compounds that are generally found in low concentrations.

Context-Dependent Memory

The theory that information learned in a particular situation or environment is better remembered when in that same environment.