​The Following Table Shows the Marginal Utility of Each Additional

question 51

Multiple Choice

​The following table shows the marginal utility of each additional unit of pretzel for a consumer. The first column of the table shows the number of pretzels consumed in a day, and the second column of the table shows the marginal utility of each additional unit of pretzel. The marginal utility of the third pretzel is _____ units. ​
Table 6.1
​

• A)5
• B)10
• C)15
• D)−0.15
• E)55

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Definitions:

Supply Shifts

Movements of the supply curve to the left or right, indicating a change in the quantity supplied at a given price, caused by factors other than the price of the good itself.

Equilibrium Point

The market condition where demand for a product equals its supply, resulting in a stable price and quantity.

Soft Pretzels

A type of baked pastry made from dough that is commonly twisted into a knot shape and has a soft, chewy texture.

Price Floor

A minimum price below which exchange is not permitted.