Assume the Utility Janet Obtains from Consuming Apples Is Given

question 26

Essay

Assume the utility Janet obtains from consuming apples is given in the table below. $$\begin{array} { c c c } \hline \text { Number of apples } & \text { Total utility } & \text { Marginal Utility } \\\hline 1 & 7 & 7 \\2 & 13 & 6 \\3 & 18 & 5 \\4 & 22 & 4 \\5 & 25 & 3 \\6 & 27 & 2 \\7 & 28 & 1 \\8 & 28 & 0 \\9 & 27 & - 1 \\10 & 25 & - 2 \\\hline\end{array}$$ (a) At what point does diminishing marginal utility set in?
(b) If apples were freely given away at zero cost, how many apples would she choose to consume?
(c) 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?

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Definitions:

Axons

Long, slender projections of nerve cells that transmit electrical impulses away from the neuron's cell body to other neurons, muscles, or glands.

Transmitting Information

The process of conveying data, knowledge, or instructions from one individual, group, or device to another.

Generating Information

The process of creating new data, ideas, or knowledge that was not previously known or available.

Neurons

The basic working units of the brain, specialized cells responsible for receiving, processing, and transmitting information through electrical and chemical signals.