(Table) Based on the Table, the Marginal Utility of the Third

question 152

Multiple Choice

(Table) Based on the table, the marginal utility of the third bag of chips is ______ utils.
$\begin{array}{l}\hline \quad \quad \quad {\text { Bottled Water }} \quad \quad \quad \quad \quad \quad \quad {\text { Bags of Chips }} \\\begin{array}{|c|c|c|c|}\hline \text { Quantity } & \text { Total Utility } & \text { Quantity } & \text { Total Utility } \\\hline 0 & 0 & 0 & 0 \\\hline 1 & 40 & 1 & 60 \\\hline 2 & 70 & 2 & 90 \\\hline 3 & 90 & 3 & 105 \\\hline 4 & 100 & 4 & 114 \\\hline 5 & 106 & 5 & 120 \\\hline\end{array}\end{array}$

• A) 255
• B) 105
• C) 15
• D) 30

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Definitions:

Cigarette Supply

The total quantity of cigarettes that producers are willing and able to sell at a given price over a specific period.

Market Violence

Acts of physical force or coercion that disrupt or seek to disrupt market operations, often associated with strikes, protests, or competitive strife.

Price Ceiling

A cap set by authorities on the maximum price that can be charged for a good or service, aimed at safeguarding the interests of consumers.

Equilibrium Price

The rate at which the demand for a good or service is equal to the supply, achieving a state of market equilibrium.