Given Jon's Marginal Utility Form Consuming Packets of Potato Chips

question 60

Essay

Given Jon's marginal utility form consuming packets of potato chips below, calculate his total utility for each quantity. $$\begin{array} { c c c } \hline \text { Quantity } & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & & 50 \\2 & & 46 \\3 & & 40 \\4 & & 32 \\5 & & 22 \\6 & & 10 \\7 & & 2 \\\hline\end{array}$$

---

Definitions:

Plant and Equipment

Tangible long-term assets owned by a business, used in the production or supply of goods and services.

Goodwill

An intangible asset that arises when a business is acquired for more than its fair market value, reflecting factors like reputation, brand, and customer loyalty.

Net Working Capital

The difference between a company's current assets and its current liabilities, indicating the liquidity and operational efficiency of the business.

Current Assets

Short-term assets that are expected to be converted into cash, sold, or consumed within one year or within the business's operating cycle, whichever is longer.